ABSTRACT
During 1985, 7,713 wells were completed in the Permian basin, a decline of 3.7% from 1984. Previously tabulated by the date reported and presently by the date completed, the well count for exploratory wells completed was 1,147 for west Texas and eastern New Mexico, up from 1,080 in 1984. Total exploratory footage was up from 7,439,504 to 7,583,711 ft. Development drilling declined with 6,566 wells completed compared to 6,932 in 1984. Development drilling footage declined from 39,174,439 to 38,650,312 ft. The success rate for all wells was 79.9%, down from 83.5% in 1984. Gas well drilling continued to show the trend of declining activity in both exploration and development, with exploratory gas completions down 18% to 56 wells and development gas wells drilled down 11% to 412 wells. Oil and gas production in 1985 decreased, reversing the increase of 1984 and resuming the long decline that began in 1974. Total oil production was 543,000,872 bbl, a decrease of 1.6% from 1984. Gas production was 1,970,498 mmcf, down 1.8%. Seismic activity decreased 17.2%, with 1,651 crew-weeks reported. Seismic activity was concentrated in proven oil-producing areas, with a decline in frontier basins. Leasing activity decreased for the fourth year in a row. A decrease in prices paid and number of acres leased was apparent in west Texas and eastern New Mexico, and is expected to continue through 1986.
