ABSTRACT
In 1989, the oil and gas industry in west Texas and eastern New Mexico continued the decline in activity from previous years. The total number of wells drilled was down 26.1% to 2459. The number of exploratory wells drilled was down 31.1% to 385, and exploration footage was down 31% from 1988. The success rate for exploratory drilling increased from 18.6% in 1988 to 21.8% in 1989. Development activity decreased 25.1% to 2074 wells, and total development footage decreased by 27.8%. Oil production for 1989 was 456,508,902 bbl, down 5.3% from 1988. Gas production, however, was up 1.2% to 2,038,188 mmcf. Seismic crew activity decreased 26.9% from 1988. The amount of acreage leased was down 3%, whereas the total bonus paid was down 13%.
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