Developments in Texas and Oklahoma Panhandles in 1954

Activity in the Texas Panhandle reached a peak not paralleled since the boom days of 1926-1929. The number of exploratory wells increased to 87 as compared with 63 in the previous year. Of these 87 wells, 27 were successful discoveries and extensions. The Oklahoma Panhandle had 40 exploratory wells drilled as compared with 48 the previous year. Of these, 12 were successful discoveries or extensions. New development wells in the Texas Panhandle numbered 859 and were 95% successful. Oil and gas production increased in the Texas Panhandle as compared with 1953. Total crew-weeks of seismograph and gravity work were down from the previous year. Leasing activity declined during the year.