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Up’s and Down’s in Oklahoma Oil Production

Oklahoma Oil Production

Oklahoma Oil Production

Oil Production in Oklahoma

In Salina of Oklahoma state Oil was found first. The finding happened accidentally. Actually that company was drilling in Oklahoma for salt. After that discovery; Oklahoma wasn’t in need of looking back because its fate was shining with its growing production of oil. In a flash of few years Oklahoma became the largest oil generator in the world. Growing production of oil and gas was in a game of braking and making new records, its oil production touched the pick at 1927 of 762,000 barrels a day.

But following years wasn’t good as that day at all because the production declined and day by day things were getting worst. in the latter quarter of the 20th century, the average decline of 3.1% per year although a temporary oil drilling in Oklahoma increased a bit at 1980-984 but the poor growth rate of oil generation made it unable to create any different, many well-known oil company’s lost their thrown but the worst part of story was oil based economy of Oklahoma was shattered, declining revenue from oil and natural gas production is slowing the state’s economic growth .the only sing of hope was increasing price of oil that made many drilling company a opportunity to survive in this hard time.

After all these hurdles a small glimpse of light was seen in 2009 for Oklahoma because at that year 142,000 barrels were produced at a day since then a steady growth is flowing. At September 2012, 72 out of the 77 counties oil or gas wells in Oklahoma State was in production as a result in august 2012 the production reached 235,000 barrels per day.

This Development was made by a long time investment and government help. At 2008 nearly 3,439 new wells were rigged and that’s why 1,759 extra oil were produced and at the 2009 more then 2,700 more well were drilled for production and that contribute more 1,642 barrels of oil, at following year 2,987 well are planted for massive increase of oil production . These growths of well drilling in Oklahoma made this state 5th highest producer of oil in America.

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