Issuu on Google+

OKLAHOMA INDEPENDENT PETROLEUM ASSOCIATION

OKLAHOMA’S OIL AND NATURAL GAS INDUSTRY


ABOUT THE OIPA The OIPA is the state’s largest oil and gas advocacy group, representing more than 2,500 members in the crude oil and natural gas exploration and production industry and affiliated businesses. Founded in 1955 to give independent oil and natural gas producers a unified voice in legislative and regulatory matters. Our members include the largest independents in the state, like Devon and Continental, as well as the smallest “mom and pop” producers. Independents produce 96 percent of the crude oil in Oklahoma and 88 percent of the state’s natural gas.


OKLAHOMA’S DEFINING INDUSTRIES

RANK

1 2 3 4 5 6 7 8 9 10

INDUSTRY

Oil & gas Trade schools Gambling Farming Auto rental Machinery mfg Rubber mfg Call centers Meat Packing Military

LOCAL QUOTIENT 2005

LOCAL QUOTIENT 1990

AVERAGE PAY 2005

8.2 4.5 3.4 3.3 2.9 2.7 2.5 2.0 1.9 1.9

8.5 4.0 1.0 2.7 2.3 2.1 2.9 0.8 0.9 2.6

$66,972 $33,924 $21, 335 $5,559 $43,266 $45,275 $52,368 $25,838 $27,596 $54,701


OIL AND GAS IN OKLAHOMA Marginal wells produce less than 10 barrels of oil per day or 60 mcf of gas or less per day. Oklahoma wells produce an average of 2.72 barrels of oil per day. Marginal wells produce 29 percent of the U.S. domestic oil and 65 percent of the oil production in Oklahoma. Marginal gas wells produce 9 percent of the U.S. domestic gas and 10 percent of the production in the state. There are approximately 73,000 marginally producing oil and gas wells in the state out of the more than 116,000 wells tracked by the Corporation Commission.


OKLAHOMA’S TOP PRODUCING COUNTIES

CRUDE OIL NATURAL GAS OIL AND GAS OIL

NATURAL GAS

1. Carter 2. Stephens 3. Osage 4. Grady 5. Texas 6. Garvin 7. Pontotoc 8. Creek 9. Caddo 10. Seminole

1. Beckham 2. Latimer 3. Roger Mills 4. Grady 5. Caddo 6. Texas 7. Pittsburgh 8. Washita 9. Custer 10. Stephens


HORIZONTAL DRILLING 50’ 1000’

1 MILE

2 MILES

2 MILES

1 MILE


DISCOVERING NEW RESOURCES

http://newsok.com/texas-company-unveils-new-oklahoma-oil-play/article/3901080 http://newsok.com/continental-resources-unveils-oklahoma-oil-field/article/3717488 http://newsok.com/sandridge-to-focus-on-six-areas-of-the-mississippi-lime/article/3807660 http://www.worldoil.com/January-2013-Woodford-Shale-SCOOP-helps-advance-Oklahomas-drive-for-oil.html


THE SCOOP The Epicenter of Oklahoma Oil It is believed that the SCOOP (the South Central Oklahoma Oil Province) will become one of the best new liquids-rich plays in America. SCOOP offers incremental growth at highly attractive returns. The SCOOP play spans 3,500 square miles. SCOOP provides multi-decade drilling opportunites in multiple pay zones.


OKLAHOMA CRUDE OIL PRODUCTION 300,000,000

250,000,000

BARRELS

200,000,000

150,000,000

100,000,000

50,000,000

0 CALENDAR YEAR


CALENDAR YEAR

2010

2006

2002

1998

1994

1990

1986

1982

1978

1974

1970

1966

1962

1958

1954

1950

1946

1942

1938

1934

1930

1926

1922

1918

1914

1910

1906

MILLION CUBIC FEET (MMcf)

OKLAHOMA NATURAL GAS PRODUCTION 2,500,000

2,000,000

1,500,000

1,000,000

500,000

0


OKLAHOMA GROSS PRODUCTION TAX COLLECTIONS FY05

$875,652,508

FY06

$1,168,597,607

FY07

$1,001,328,027

FY08

$1,266,654,634

FY09

$1,174,211,946

FY10

$869,129,236

FY11

$978,167,008

FY12

$896,683,202

FY13

$715,072,537


$1 out of every $3 spent in Oklahoma comes from the oil and natural gas industry


1 out of every 6 jobs in Oklahoma is tied to the oil and natural gas industry


OKLAHOMA INDEPENDENT PETROLEUM ASSOCIATION

500 N.E. 4TH STREET | OKLAHOMA CITY, OK 73104 1-800-838-6472 | www.OIPA.com


Oipa presentation (revised)