More than 99% of Williams’s US proved reserves are natural gas. Williams attributed the majority of its US reserves additions to the rapid development of its drilling inventory, particularly in Colorado and Wyoming.
Williams claimed that it had a drilling success rate of approximately 99% in 2007. The company participated in 1,590 gross wells in the US, of which 1,581 were successful.
Williams’s development activities in 2007 resulted in a total net addition of 776 billion cubic feet equivalent (Bcfe) in net reserves. Comparatively, it added a total of 597Bcfe in net reserves in 2006 and a total of 620Bcfe in net reserves in 2005. The company’s three-year average US finding and developing cost was $1.77 per thousand cubic feet equivalent.
