Show EXPLORATION DOWN Exploratory drilling for oil and gas in the United States continued a year 10 decline in 1967 Preliminary reports indicate that about exploratory wells were drilled in this country last year a drop of 1957 Industry leaders regard the continuing decline as omin omin- ominous ous because petroleum demand is rising rapidly I A new Federal Trade Com Com- ComI Commission I mission report shows that oil company profits rank midway and and between the highest lowest rates of return among 23 21 indus tries studied Although the net income cf oil companies studied has in creased in recent years the I rate of return is still below the 1957 level |