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RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dryholes. This compares to 841 total new drills in February, including 682 oil wells, 142 gas wells and 17 dryholes. The three Permian basin districts7C, 8 and 8Acomprised 67.3%
Drilling a dryhole can cost hundreds of millions of dollars. Soon, AI may be able to generate entire basin models in real time, optimize exploration portfolios, and autonomously propose drilling locationsall with greater accuracy than ever before. This helps teams assess risk more quantitatively.
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