Abstract

Exploratory drilling decreased 2.3% from the previous year. The success ratio increased to 35.4%, and there were 7.5% more successful exploratory wells than in 1961. Successful new-field wildcats numbered 69 out of 248, a 28% success ratio. Better geologic knowledge and improved exploration techniques plus management's critical review of exploration budgets are important factors for higher success ratios. The Anadarko basin and shelf had 41% of the Oklahoma wildcat discoveries. Meramec-Osage rocks accounted for 19.5% of the discovery zones in 140 wildcat discovery wells. Significant discoveries in the Anadarko and Arkoma basin areas caused modest lease plays. Spotty leasing activity occurred near drilling wildcats and known geologic structures. Oklahoma produced over a trillion cubic feet of gas in 1962. Production of oil and gas was up 2.8% and 3.7%, respectively. Geophysical activity decreased 20% from 1961.

You do not currently have access to this article.