Exploratory drilling increased 12 per cent in 1964. Thirty-one discoveries resulted from the drilling of 275 wildcat wells, or a 1:9 success ratio. Twenty of the discoveries are classified as new fields.
The Frio Formation was the objective of more than 50 per cent of the wildcat wells. The highest success ratios were in Miocene and Cretaceous reservoirs. Exploration in these two trends is expected to increase in 1965.