by Daniel J. Graeber
Washington (UPI) Aug 15, 2017
With more than 10 percent of the new wells drilled in U.S. shale basins, Oklahoma has earned a place in new monthly data reporting, the government said.
The U.S. Energy Information Administration said it was adding the Anadarko region to its monthly drilling report. The shale basin covers 24 counties in Oklahoma and five in Texas.
"The Anadarko region accounts for approximately 450,000 barrels per day of oil production, 5.7 billion cubic feet per day of natural gas production, 13 percent of new wells drilled, and 13 percent of drilled but uncompleted wells as of July 2017," EIA reported.
Oklahoma is home to about 4 percent of the total petroleum reserves in the country and accounts for as much as 5 percent of the total crude oil production in the United States. The EIA said the Anadarko basin is a legacy producer that's seen an uptick in activity from the STACK and SCOOP reservoirs within the broader shale area.
BNK Petroleum Inc., which has headquarters in California, announced Monday it completed the hydraulic fracturing process at a well in the SCOOP basin and is anticipating a "highly productive well."
Shale work in Oklahoma is under close monitoring because of a new fault located in the region by the U.S. Geological Survey. At least eight earthquakes were recorded Aug. 3 in the state, the largest of which was a magnitude-4.2 event.
The Oklahoma Corporation Commission has ordered oil and gas operators to cut back on disposal well operations and closed some wells in response to increased seismic activity in certain areas. The seismic events are not related to hydraulic fracturing in and of itself.
EIA estimates August oil production from the Anadarko shale at 447,000 barrels per day and output should increase about 2.5 percent in September. Gas production should average 5.9 million cubic feet for August and increase 1.3 percent next month.
On natural gas in particular, EIA said it was consolidating data from the Marcellus and Utica shale basins that cover states from Ohio to New York.
"As drilling activity and production in the Appalachia region have increased in recent years, the overlapping formations make it difficult to attribute production to the proper formation," it said.
Washington (UPI) Aug 11, 2017
Oil production from Iraq and Saudi Arabia will remain subdued until the markets reach a target level that indicates a balanced market, leaders said. Saudi Prince Mohammed bin Salman bin Abdulaziz al-Saud hosted Iraqi Oil Minister Jabbar al-Luabi to discuss recent trades in shared oil policy. Saudi Arabia is the largest oil producer in the Organization of Petroleum Exporting Count ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|