Oklahoma New & Notable Wells
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Kansas Production Scorecard
Oklahoma New & Notable Wells
In this month's Oklahoma New & Notable Well report we have a few properties that are still hanging around, however, several new completions make the top 25 list for oil and gas. A Roger Mills county completion, in the Upper Granite Wash (Des Moines), appears to be a great asset, FREEZEOUT 17X 1126-1H. This well was completed 12/18 and is producing 1206 bopd (barrel of oil per day) & 1401 mcfpd (thousand cubic feet gas per day).
Newfield Exploration's SAWYER 1613 1H-27X is a notable property. The crude oil production on the Sawyer fell from a peak of 20,783 bopm(barrels oil per month) to 2,267 bopm. In March, production was increased to 23,207 bopm. This is a well to watch, an interesting spike in production, maybe something to dig into a little deeper... Anyone have the answer? Let us know in the comments.
The Last set of properties that need mentioning are Continental Resource's Simba wells; there are seven horizontal Woodford completions. Three of the wells made it on the gas New & Notable report. Combined these wells are producing just shy of 3,000,000 mcfpm.
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FREEZEOUT 17X-1126 1H
(well IP bubble Map with Laterals)
SAWYER 1613 1H-27X
(Decline Curve analysis & Cashflow projections)
SIMBA Horizontal Woodford Wells
(Composite Gas production plot)
Lots of mergers & acquisitions happening this summer. Shakespeare Oil Co., Inc. leaps into the top 25 oil operators, placing themselves at number 10. Shakespeare's boost in production is partly due to the purchase of the SW Dighton Water Flood Unit, Lane county. Pantera Energy Company also makes their their debut, by increasing gas production by nearly ten-fold after the purchase of a large group of Merit Energy properties.
Also to note in Eastern Kansas, John O. Farmer Inc. has made it as a top operator following their completions last summer of the Prellwitz 1 & Nielson 1.
Congratulations Shakespeare, Pantera, John O. Farmer!
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United States Leader of the Pack
It was at the end of 2012, the United States was finally within reach of Saudi Arabian crude oil production. Saudi's daily oil production had reached 11.84 million barrels per day while US crude was just shy at 11.12 million barrel per day. By the end of 2013, the United States crude oil surpassed Saudi Arabia and has continued to increase. Currently, the United States is also the largest producer of natural gas. Our gas production in 2011 passed Russian gas production by a relatively small margin, 694 billion cubic feet per day. That is compared to Iran, third in gas production, making 17,541 fewer billions of cubic feet per day of gas.
By 2018, the United States had not seen a decrease in oil and natural gas production in over a decade. The shear volume of all the additional resources discovered has cause issues upstream. Transporting, disposing, and processing at this magnitude has become a cause for concern, particularly for those active in the Permian Basin in West Texas and New Mexico. However, there is no need for alarm yet... a resolve will come shortly.
Over the last two years, the big bottleneck talk related to the Permian has centered on the need for a major expansion of pipeline takeaway capacity to move oil, natural gas and natural gas liquids (NGLs) out of the basin to major market and refining centers along the Texas and Louisiana Gulf Coast. But that particular bottleneck is about to start resolving itself during course of this year. Midstream projects will add up to 6 million barrels of oil equivalent of new takeaway capacity out of the Permian by the end of 2021, and that just from the projects currently Underway. (Source): Forbes Article David Blackmon
The SCOOP on Oklahoma's O&G Production
Oklahoma STACKS up fairly well when compared to the entire United States. Nestled right in the middle of oil & gas country there are not any shortages of fossil fuel production in Oklahoma. Starting from the first well completed in the late 1800s up until today oil & gas has been an integral part of the state. Most of Oklahoma production today comes from 3 major regions: Anadarko Basin, Nemaha Uplift, Arkoma Basin. Within the 3 major geological marks we have a number of large resource plays like the Granite Wash to the west, Cana-Woodford, Missippian Lime, STACK (Sooner Trend, Anadarko Basin, Cannadian , & Kingfisher counties), SCOOP (Central Oklahoma), and Arkoma-Woodford to the east.
Over the last decade Oklahoma has tripled their crude oil production and nearly doubled natural gas volumes, as of March 2019, crude oil was at 590,000 BOPD and 8,534,000 mcf. This increased production mirrors the overall trend of United States production, implying the Oklahoma E&P industry is healthy. Texas sweeps the board for both oil and natural gas production. Oklahoma currently stands at 4th place for crude oil and 3rd for natural gas when compared to other states (eia.gov).
United States Tight Oil, Shale Gas, & Sedimentary Basins
Top 10 Oklahoma Oil & Gas Operators
As our investigation continued we drilled deeper and looked at the top oil and gas producers in Oklahoma. Newfield, Devon, & Continental currently produce the greatest amount of oil and natural gas, however when we look at production by property a slightly different picture is painted. In some cases we see smaller operators producing fewer properties yet at a higher average rate per property.
View specific rates & maps below...
Total Barrels of Oil Per Day
Average Barrels of Oil Per Day Per Lease
*Operators with greater than 20 active oil leases
Total Million Cubic Feet Natural Gas Per Day
Total Million Cubic Feet Natural Gas Per Day Per Lease
*Operators with greater than 20 active gas leases
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