Total drilling activity decreased 12.3% in 1958. There were 2,520 wells drilled, as compared with 2,872 wells drilled in 1957. Exploratory wells totaled 964, an increase of 7.0% from 901 the previous year. Development drilling during 1958 decreased 21.1% to 1,556 wells, as compared with 1,971 in 1957.

Total oil production decreased 10.2% as a result of the lower number of allowable producing days and the decrease in development drilling. In all, 48,928,383 bbls. of oil were produced in 1958, compared with 54,498,934 bbls. the previous year.

Geophysical activity decreased 12% in 1958, as compared with the year 1957. Subsurface geological methods were credited with 76% of the new discoveries.

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