We report experimental results from a comparative study on collapsed region and conventional region operation of capacitive micromachined ultrasonic transducers (CMUTs) fabricated with a wafer bonding technique. Using ultrasonic pulse-echo and pitch-catch measurements, we characterized single elements of 1-D CMUT arrays operating in oil. The experimental results from this study agreed with the simulation results: a CMUT operating in the collapsed region produced a higher maximum output pressure than a CMUT operated in the conventional region at 90% of its collapse voltage (3 kPa/V vs. 16.1 kPa/V at 2.3 MHz). While the pulse-echo fractional bandwidth (126%) was higher in the collapsed region operation than in the conventional operation (117%), the pulse-echo amplitude in collapsed region operation was 11 dB higher than in conventional region operation. Furthermore, within the range of tested bias voltages, the output pressure monotonously increased with increased bias during collapsed region operation. It was also found that in the conventional mode, short AC pulses (larger than the collapse voltage) could be applied without collapsing the membranes. Finally, while no significant difference was observed in reflectivity of the CMUT face between the two regions of operation, hysteretic behavior of the devices was identified in the collapsed region operation.