Wednesday, April 4, 2012
This is just another take on the current US oil drilling boom. This is the EIA's data for the number of wells drilled through Jan 2012, split between exploratory and development wells. You can see the huge surge since the end of the recession in mid 2009. As usual, most of the wells are development (ie for extracting the oil from known fields).
Although drilling is at a higher level than for the last twenty five years, it's only at about 2/3 of the level of the early 1980s.