API: Number of Completed Natural Gas Wells Down 24 Pct (USA)

Overall well completions, including oil and gas wells, maintained its high levels from a year ago of about 11,000 wells in the second quarter, according to API’s 2012 Quarterly Well Completion Report: Second Quarter. Oil well completions increased by 13 percent with 7,195 total wells being completed in the second quarter of 2012.

“The oil and natural gas industry expanded oil drilling in the second quarter of 2012 thanks in large part to access on private and state lands,” said Hazem Arafa, director of API’s statistics department. “Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government.”

The report showed that 2,472 natural gas wells were completed in the second quarter, a 24 percent decline from year ago levels. Exploratory well completions were up 26 percent (800 wells). Total footage drilled was 83,270 feet, a 3 percent increase.

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LNG World News Staff, July 18, 2012; Image: Chesapeake