This thesis details research conducted towards investigating the state of stress around inclined boreholes with the ultimate aim of predicting borehole stability and providing realistic estimates of closure stress. Chapter 1 discusses the factors affecting the stability of boreholes and reviews previous research conducted into borehole failure. The mechanics of hydraulic fracturing are reviewed as are methods of predicting fracture gradients. The manner in which closure stress is estimated is also critically reviewed. Chapter 2 describes an initial investigation into the stresses around inclined boreholes using the photoelastic technique of Stress Freezing. Chapter 3 details the laboratory determination of rock properties required for the borehole stability work detailed in Chapter 4. The applicability of the Brinell Hardness test to rock is also examined. Chapter 4 presents a detailed analysis of borehole stability. Failure criteria are developed and applied to estimate the mud weight required to maintain the hole in an elastic condition. To investigate the post-failure stability, existing 'yield zone' equations are modified to allow the effect of rock strength, oil flow rate, in-situ stress and hole angle to be examined. Chapter 5 describes the design and in-house manufacture of the specialised equipment required to measure fracture conductivity in the laboratory, the development of experimental procedures, the various test results and the conclusions drawn from them. Finally, the direct effect of a yield zone on the estimation of closure stress and on proppant selection is examined Chapter 6 summarises the conclusions that may be drawn from the work detailed in this thesis. The chapter also describes possible fields of future research which have been stimulated by the work presented. Two appendices are included, one providing a data-base of proppant properties, the other detailing the results of the application of the data-base to formation samples.