North America: high drilling rate continues despite political problems
During the first half of 1975, unprecedented interference in industry affairs by the U.S. government and continuing conflict between the federal and provincial governments of Canada, over oil taxation, had less depreciating influence than expected on drilling in the two countries which complete most of the world's oil and gas wells. The U.S. was expected to post a respectable gain in well completions and reach a drilling level last attained in 1966. Somewhat surprisingly, considering the low operator morale that prevailed there earlier in 1975, Canada should register only a slight decline--much less than was anticipated only a few months ago. And in North America's third largest producing country, the 1975 outlook was exceptionally bright, without qualification. Mexico, in the space of a year, has moved from the position of oil importer to self-sufficiency to oil exporter by virtue of large new discoveries in the southern portion of the country and an expeditious development program. In Copenhagen, 20 oil companies from 9 countries participating in 6 groups received permits on 46 blocks covering 7,000 sq. mi of Greenland's OCS.
- OSTI ID:
- 7355301
- Journal Information:
- World Oil; (United States), Vol. 181:3
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
02 PETROLEUM
03 NATURAL GAS
CANADA
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY
GREENLAND
MEXICO
USA
DRILLING
ECONOMICS
ENERGY
EXPLORATION
FORECASTING
GOVERNMENT POLICIES
MARKET
NORTH AMERICA
RESERVES
TAXES
INDUSTRY
RESOURCES
294002* - Energy Planning & Policy- Petroleum
294003 - Energy Planning & Policy- Natural Gas
020300 - Petroleum- Drilling & Production
030300 - Natural Gas- Drilling
Production
& Processing