ABSTRACT
Declining oil prices, curtailed gas sales, and uncertain tax law changes contributed to a 9.1% decrease in drilling, a 25.3% drop in gas production, and a 5% drop in oil production in Oklahoma and the Panhandle of Texas (Texas Railroad Commission District 10) in 1985.
Exploration focused on development and extension of existing fields, with development wells outnumbering exploratory wells 20 to 1.
Operators completed 14.3% fewer exploratory wells and 9.1% fewer development wells. The success rate for exploratory wells declined to 28.9%, and the success rate for development wells dropped to 72.3%.
The Cherokee shelf was the most active trend, with 90 exploratory wells completed in 1985.
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