ABSTRACT
During 1982, 8,495 wells were drilled in eastern New Mexico and west Texas, 17.1% more than 1981. The success rate for all wells was 78.7%, down 2.9% from 1981. The number of exploratory wells drilled was 17.8% higher than 1981, and the total exploratory footage drilled was up 16.0%. Significantly, the exploratory success rate decreased from 31.2% to 26.4%. Seismic activity decreased 6.2% from 1981, continuing a downward trend which began in 1981. The anticipated decline in exploratory drilling for 1982 based on the 1981 seismic decline did not materialize. This was primarily due to the peak in drilling rig activity in late 1981 and the carry-over to early 1982 of subsequent completion activity. During 1982, 17.0% more development wells were drilled, and development footage set a record for the second consecutive year with 38,965,649 ft, an increase of 15.3%. Development success decreased by 2.5% to 89.1%. Oil production for 1982 was 559,991,956 bbl, down 3.2% from 1981, and gas production was 2,173,835,539 mcf, down 10.8% from 1981. Leasing activity decreased sharply in 1982. This was reflected in prices paid and acreage purchased at the University of Texas land sale as well as the New Mexico state sales.
