Press Esc to close



For full content view: Log in Now!

  • International: Worldwide drilling

    Economic and geopolitical events extended largely beyond OPEC’s control last year, particularly during the last six months. As a consequence, the cartel’s carefully titrated production quotas began to unravel, and oil and gas prices slipped substantially. Fortunately, the long-term fundamentals of supply and demand remained relatively sound enough to institute a price floor at about $18/bbl. Not surprisingly, drilling levels began to slow down, most notably in North and South America, with some minor reductions also experienced in Africa and the Middle East. Nevertheless, drilling outside the U.S. managed to rise 4.5%, to 42,580 wells. This year, the outlook calls for an 8.1% decline to 39,120 wells. It should be noted that if Canada were left out of the total, then the rest of the world would be up 1%. Indeed, we expect increases of varying size in five out of eight regions: Western Europe, Eastern Europe, Africa, the Far East and South Pacific.

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial

2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.

If you are already a paid subscriber and do not have access, please email



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology