The low price of oil and large accumulation of stock in the producing
regions have had the effect to lessen operations in this department
during the month of June.
The total number of drilling wells in all the districts, at the close of
the month, was 266, which was 110 less than in the preceding month. Rigs
erected and being erected 243, against 309 last month. The number of
drilling wells completed during the month was 269, being 151 less than
in May. Aggregate production of the new wells was 3,788 barrels, against
6,851 barrels in May. The total number of dry holes developed in the
month was 22, against 42 in May.
The operators in the great northern field (Bradford district) have
curtailed operations to an extent which will compare favorably with the
operators in the other portions of the producing regions, as will be
seen by the following statement, namely:
Number of wells drilling at the close of the month, 187, against 284 at
the close of the previous month. Number of drilling wells completed in
June, 193, against 346 in May. Number of rigs erected and being erected,
196, against 234 in May.