U.S. Oil, Gas Drilling Activity Hits Two-Decade High In Q2

According to API’s 2006 Quarterly Well Completion Report: Second Quarter, a 20-year high estimated 24,729 oil wells, natural gas wells and dry holes were completed in the first half of 2006. In the second quarter of 2006 alone, there were an estimated 12,681 completions, the highest single quarter estimate since the first quarter of 1986.