Oil & Gas 360º

APRIL 7, 2025

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

Dry Hole Oil Basin Gas 130

Aresco

APRIL 23, 2025

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.

Exploration and Production 104

Exploration and Production Gas Oil Dry Hole 104

The Energy Law

APRIL 30, 2020

The well was a dry hole, however, and was therefore plugged and abandoned on April 21, 2006. He relied on the research of two geologists, who both believed the well would be capable of production in paying quantities based on the success of nearby wells and the property’s close proximity to several productive fields.

Operator 40

Operator Dry Hole Spud-in Abandonment 40

Aresco

DECEMBER 17, 2024

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.

Crude Oil 52

Crude Oil Exploration and Production Oil Natural Gas 52