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The number of oil and gas wells drilled in Oklahoma will rise 46% through 2017. The STACK, a newer play, has risen even through the oil price collapse in 2014. Outside of the STACK and the SCOOP, low oil and gas prices have decreased overall drilling activity and curtailed a shift from vertical to horizonal drilling. Unconventional drilling techniques have improved since they went into widespread usage in the US in 2010, increasing initial production rates and and estimated ultimate recoveries while reducing drilling times and overall costs to drill a well.
This study analyzes the oil and gas drilling outlook for Oklahoma. Drilling numbers are examined by play, operator, resource, trajectory, county, and formation. Historical data for 2015 and 2016 and forecasts for 2017 and 2018 are presented in various units, including but not limited to wells drilled, footage drilled, and active rigs. Unconventional drilling is used to describe wells that are both unconventionally and horizontally drilled in this study. Although not all wells drilled horizontally are unconventional, and vice versa, we have decided it is safe to assume this is the case for our analysis. Additionally, drilling costs (dollars), drilling rates (days), and production (bbl or mcf) are analyzed in this study.
For the purposes of this study, the state of Oklahoma is divided geographically into several oil and gas plays based on county boundaries. These plays are defined by the counties they encompass and are summarized in the following table.
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EXECUTIVE SUMMARY
OKLAHOMA OIL & GAS DRILLING OVERVIEW
Key Findings
Upstream Activity
Historical Drilling Trends
Drilling Activity by Trajectory
Oklahoma Share of US Drilling Activity
Factors Impacting Drilling Activity
Historical Oil & Gas Price Volatility
Price Forecasts
Drilling Costs
Drilling Efficiency
Length of Laterals
Mid- & Downstream Infrastructure
Environmental & Regulatory Considerations
STACK
Key Findings
Scope
Historical Drilling Activity
Drilling Forecast
Factors Impacting Drilling Activity
Infrastructure Investment
Land Acquisitions
Drilling by Operator
Drilling Forecast by Resource
Drilling Forecast by Trajectory
Drilling by County
Drilling by Formation
SCOOP
Key Findings
Scope
Historical Drilling Activity
Drilling Forecast
Factors Impacting Drilling Activity
Infrastructure Investment
Land Acquisitions
Drilling by Operator
Drilling Forecast by Resource
Drilling Forecast by Trajectory
Drilling by County
Drilling by Formation
OTHER AREAS
Key Findings
Scope
Historical Drilling Activity
Drilling Forecast
Factors Impacting Drilling Activity
Drilling by Operator
Drilling Forecast by Resource
Drilling Forecast by Trajectory
Drilling by County
Drilling by Formation
APPENDIX
Scope
Plays
Well Types
Resource Types
Methodology
Sources
Associations & Agencies
Related Freedonia Group Studies
Definitions
Abbreviations
Macroeconomic Assumptions
Economic Environment
Oil & Gas Production Outlook
OKLAHOMA OIL & GAS DRILLING OVERVIEW
Table 2-1 | Oklahoma: Upstream Drilling Activity, 2015 - 2018
Table 2-2 | Oil & Gas Prices, 2015 - 2018
Table 2-3 | US Exploration & Development Costs per Well Drilled Selected Operators, 2014 - 2016 (mil $)
Table 2-4 | Drilling Efficiency Indicators, US Unconventional Oil & Gas, 2015 - 2018
Table 2-5 | Length of Laterals, 2015 - 2018 (feet)
STACK
Table 3-1 | STACK: Upstream Drilling Activity, 2015 - 2018
Table 3-2 | STACK: Selected Future Pipelines
Table 3-3 | STACK: Selected Land Acquisitions
Table 3-4 | STACK: Wells Drilled & Active Drilling Rigs by Resource, 2015 - 2018
Table 3-5 | STACK: Wells Drilled by Trajectory, 2015 - 2018
SCOOP
Table 4-1 | SCOOP: Upstream Drilling Activity, 2015 - 2018
Table 4-2 | SCOOP: Selected Future Pipelines
Table 4-3 | SCOOP: Selected Land Acquisitions
Table 4-4 | SCOOP: Wells Drilled & Active Drilling Rigs by Resource, 2015 - 2018
Table 4-5 | SCOOP: Wells Drilled by Trajectory, 2015 - 2018
OTHER AREAS
Table 5-1 | Other Areas: Upstream Drilling Activity, 2015 - 2018
Table 5-2 | Other Areas: Wells Drilled & Active Drilling Rigs by Resource, 2015 - 2018
Table 5-3 | Other Areas: Wells Drilled by Trajectory, 2015 - 2018
APPENDIX
Table 6-1 | Oklahoma Oil & Gas Drilling: Plays
Table 6-2 | Oklahoma Oil & Gas Drilling: Well Types
Table 6-3 | Oklahoma Oil & Gas Drilling: Resource Types
Table 6-4 | Abbreviations Used in Study
Table 6-5 | Macroeconomic Outlook, 2015 - 2018
Table 6-6 | Oil & Gas Production & Consumption, 2015 - 2018
EXECUTIVE SUMMARY
Figure 1-1 | Oklahoma Drilling Overview
OKLAHOMA OIL & GAS DRILLING OVERVIEW
Figure 2-1 | Key Trends in Oklahoma Oil & Gas Drilling
Figure 2-2 | Oklahoma: Wells Drilled by Play, 2006 - 2016 (wells)
Figure 2-3 | Oklahoma: Wells Drilled by Trajectory, 2006 - 2016 (percent)
Figure 2-4 | US versus Oklahoma Upstream Drilling Activity, 2006 - 2016 (wells)
Figure 2-5 | Oil & Gas Prices, 2006 - 2016
Figure 2-6 | Oklahoma: Drilling Speeds, 2006 - 2016 (drilling days per well)
STACK
Figure 3-1 | STACK: Key Trends
Figure 3-2 | STACK: Counties in Oklahoma
Figure 3-3 | Oklahoma & STACK Upstream Drilling Activity, 2006 - 2016
Figure 3-4 | STACK: Factors Impacting Drilling Activity
Figure 3-5 | STACK: Wells Drilled by Operator, 2016
Figure 3-6 | STACK: Wells Drilled by Trajectory, 2006 - 2016 (percent)
Figure 3-7 | STACK: Wells Drilled by County Heat Map
SCOOP
Figure 4-1 | SCOOP: Key Trends
Figure 4-2 | SCOOP: Counties in Oklahoma
Figure 4-3 | Oklahoma versus SCOOP Upstream Activity, 2006 - 2016 (wells)
Figure 4-4 | SCOOP: Factors Promoting Drilling Activity
Figure 4-5 | SCOOP: Wells Drilled by Operator, 2016
Figure 4-6 | SCOOP: Wells Drilled by Trajectory, 2006 - 2016 (percent)
Figure 4-7 | SCOOP: Wells Drilled by County Heat Map, 2016
OTHER AREAS
Figure 5-1 | Other Drilling Areas: Key Trends
Figure 5-2 | Arkoma Woodford & Granite Wash: Counties in Oklahoma
Figure 5-3 | Oklahoma & Other Areas Upstream Drilling Activity, 2006 - 2016 (wells)
Figure 5-4 | Other Areas: Wells Drilled by Operator, 2016
Figure 5-5 | Other Areas: Wells Drilled by Trajectory, 2006 - 2016 (percent)
Figure 5-6 | Other Areas: Wells Drilled by Location Heat Map
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