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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 figures a year ago included 689 oil wells, 183 gas wells and 19 dryholes.
Direct investments in crude oil and natural gas generally involve purchasing interests in exploration and production (E&P) companies, owning working interests in oil and gas wells, or investing in partnerships that develop and operate oil fields. Dry holeswhere no commercially viable oil or gas is foundare a real possibility.
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