U.S. well completions dropped 24% in Q1, API statistics show

04/26/2010 | Oil & Gas Journal

First-quarter well completions in the U.S. fell 24%, halting six months of growth, the American Petroleum Institute said. Approximately 7,663 wells were drilled, which is lower when compared with the same period in 2009. "This drop in drilling activity was somewhat unexpected," said Hazem Arafa, head of API's statistics department.

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