Global oil and gas drilling by water depth 2024

The majority of oil and gas drilling by publicly-traded oil supermajors is focused on ultra-deepwater extraction sites. In February 2024, around 43 percent of all wells drilled by these companies were classified as ultra-deepwater. By comparison, land drilling only accounted for 14 percent of drilling activity that month.

Distribution of oil and gas drilling activity by oil supermajors worldwide in February 2024, by water depth

Characteristic	Share of total drilling activity
Onshore	14%
Continental shelf	7%
Deepwater	35%
Ultra-deepwater	43%

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Release date

February 2024

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Region

Worldwide

Survey time period

February 2024

Supplementary notes

Figures reflect drilling activity by oil supermajors BP, Chevron, Eni, ExxonMobil, Shell, and TotalEnergies.

Water depth was not further defined by the source. However, deepwater drilling is generally understood as all activity below 610 meters/2,000 feet, with ultra-deepwater drilling beginning at 1,830 meters/6,000 feet.

Missing points to 100 percent are likely due to rounding.

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