September 2012
Features
Gains registered in all three global E&P categories
World Oil’s annual tabulation of drilling, production and reserve statistics shows that the global upstream oil and gas industry is thriving. Indeed, the worldwide E&P industry during 2011 rang up increases in all three major statistical categories—drilling, production and reserves—and appears headed to do the same thing again this year. Drilling was up 7.5% last year over 2010’s figure, at 103,039 wells. This year, we forecast that the pace of drilling increase will slow just a bit, but it will still be good enough for a 2.2% increase to 105,350 wells.
