Second half work to boost 1991 drilling in the U. S

This paper reports that U.S. well completions in 1991 will increase about 8% compared with 1990 if operators stick with present spending plans during the second half. Operators are expected to realize $76.4 billion in wellhead revenues this year, 10.7% less than the 1990 estimate. However, they are expected to invest a larger share of those revenues in drilling this year than they did in 1990. With less than half the year remaining, here is Oil and Gas Journal's updated look at 1991 U.S. drilling: The rotary rig count will average 1,050, up from last year's average of 1,010. Operators will drill about 31,654 oil wells, gas wells, and dry holes compared with an estimated 29,170 drilled in 1990. Exploratory drilling will decline to 5,711 wildcats. Total footage drilled will exceed 152 million ft of hole; average well depth is expected to be about 4,805 ft. Major oil companies drilled 2,602 wells in the U.S. during first half 1991 and plan to drill 2,569 the rest of this year. Meanwhile, drilling in western Canada will likely total 5,900 wells this year.