U.S. crude oil and natural gas drilling for the first three quarters of this year hit a 21-year high, with gas activity in the third quarter setting an all-time quarterly record, according to the American Petroleum Institute (API).

An estimated 37,261 oil and gas wells and dry holes were completed in the first three quarters of the year for a record 21-year high, the API said in its Quarterly Well Completion Report. Total completions in the third quarter alone were 12,687, which was the highest single quarterly estimate since the first quarter of 1986 and the 12th consecutive quarterly increase in U.S. drilling activity, it noted.

Natural gas activity broke all records. An estimated all-time high of 21,897 gas wells were completed in the first nine months of the year, with approximately 7,480 of the well completions coming in the third quarter — a record quarterly high for gas drilling activity in the United States, according to the API report.

API said oil drilling occurred at a brisk clip as well. An estimated 11,545 oil wells were completed in the first three quarters of this year, with about 3,960 of the wells completed in the third quarter. This third-quarter estimate exceeds every quarter of this decade and the 1990s, API said.

Quarter-to-quarter comparisons showed that total completions in the third quarter increased 9% over the same period in 2005. Oil completion were up 11%, while natural gas completions rose 9% over year-ago levels, it noted.

API also reported that total estimated footage drilled in the first three quarters and in the third quarter were 212,523 feet and 73,107 feet, respectively. The last time estimated total footage drilled was this high was back in 1985, it said.

The data is contained in the API Quarterly Well Completion Report, which is available to subscribers. The report also is available from Jeff Obermiller at (202) 682-8508 or through API’s Internet-based online service, ACCESS* API.

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