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Texas new drills jump 27% higher in March over February, tie January’s level

Oil & Gas 360º

RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes. This compares to 841 total new drills in February, including 682 oil wells, 142 gas wells and 17 dry holes. The figures a year ago included 689 oil wells, 183 gas wells and 19 dry holes.

Dry Hole 130
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AI in Oil and Gas Exploration

Aresco

Drilling a dry hole can cost hundreds of millions of dollars. AI excels at mining these archives to find analog fields and geologic similarities to current projects. This helps teams assess risk more quantitatively.