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Oklahoma: A Major Player for Future Hydrocarbon Production

Oklahoma: A Major Player for Future Hydrocarbon Production

Full Title: Oklahoma: A Major Player for Future Hydrocarbon Production
Author(s): Bob Hugman and Harry Vidas
Publisher(s): ICF International
Publication Date: October 1, 2015
Full Text: Download Resource
Description (excerpt):

This ICF white paper examines Oklahoma’s large oil and gas production increases and its position geographically and geologically to play a large role in future production and oil and gas exports.

Despite sharp drilling activity declines over the past year in most areas of the country, Oklahoma oil and gas production has been increasing, driven by the Anadarko Basin. Although much of the state’s natural gas liquids (crude and condensate) production growth since 2005 has been from the Mississippian Lime play, activity there has dropped sharply and is being replaced by other increasing Anadarko Basin production. Most of the recent high estimated ultimate recovery (EUR) Oklahoma wells have been completed in wet gas windows of shale plays in the Anadarko Basin, primarily in the Cana and South Central Oklahoma Oil Province (SCOOP) plays. Improved completion practices and a focus on sweet spots have resulted in large increases in EUR per well. Well economics in several areas of the Anadarko are competitive with the best U.S. tight oil plays. However, only a small part of the overall Oklahoma tight oil resource is economic at less than $50 per barrel oil prices, suggesting a potential for substantially increased activity when oil prices increase.

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