Carlton Carroll | 202.682.8114 | carrollc@api.org

WASHINGTON, January 27, 2012 – Oil well drilling activity continued to increase in the fourth quarter of 2011, according to API's 2011 Quarterly Well Completion Report: Fourth Quarter. The report estimates that 6,149 oil wells were completed in fourth quarter 2011, a 10 percent increase from year-ago levels.

"There's good news that domestic drilling continued to increase into the fourth quarter of 2011," said Hazem Arafa, director of API's statistics department.  "And with policies that allow greater access to the vast energy resources right here at home, we can provide even more of the energy our country needs while hiring more American workers and generating more revenue for our government."

The report estimates that 10,383 total wells were completed in the fourth quarter of 2011, including 3,217 natural gas wells and 1,017 dry holes.  Estimated drilling footage was 74,650,000 feet, a 1 percent increase from fourth quarter 2010. 

API represents more than 490 oil and natural gas companies, leaders of a technology-driven industry that supplies most of America's energy, supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers more than $86 million a day in revenue to our government, and, since 2000, has invested more than $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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The 2011 API Quarterly Well Completion Report is available for an annual subscription through API's primary distributor, Information Handling Services (IHS). If you would like to purchase an annual subscription to this report, please contact IHS at 1-800-854-7179, or visit their website at: www.global.ihs.com.