Oil and Gas Developments in Louisiana Gulf Coast Offshore in 1986

ABSTRACT In 1986, 672 wells were drilled in offshore Louisiana, a decrease of 302 wells from 1985. The overall success rate was 57.1%, a slight increase from the 56.2% success rate of 1985. The success rate for new-field wildcats increased to 24.4%, with 32 discoveries, down from 40 discoveries in 1985. New-pool and outpost drilling decreased by 36 wells from 1985 levels to 72 wells drilled. Of these, 38 new-pool or outpost discoveries were made, compared to 51 in 1985. At Federal Lease Sale 104 on April 30, 1986, $164.14 million was bid on 114 leases by 45 companies. The total of accepted winning bids on 101 tracts was $144.76 million. Geophysical activity fell 45.9% from 1985 to 522 crew-weeks. Liquids production increased almost 1% (to 330 million bbl) from 1985 levels, whereas gas production fell 9.2% (to 3,080 bcf).