Study #: 3526 | Published: 05/2017 | Pages: 81 | Individual User License: US$ 2,100

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.

Play

Top 2016 Resource by Drilling Rig

Counties

Arkoma Woodford

Oil

Atoka, Coal, Hughes, Pittsburg

Granite Wash

Oil

Beckham, Custer, Roger Mills, Washita

SCOOP

Oil

Caddo, Carter, Comanche, Garvin, Grady, Love, McClain, Murray, Stephens

STACK

Oil

Blaine, Canadian, Dewey, Kingfisher

Source: The Freedonia Group

Well Type

Top Areas

Notes

Directional

Other Areas

Used for naturally flowing oil and gas plays

Horizontal

All of Oklahoma

Used mainly with unconventional drilling technology (e.g., hydraulic fracturing), but some conventional wells have horizontal laterals

Vertical

Other Areas

Used for naturally flowing oil and gas plays

Source: The Freedonia Group

Resource

Types

Notes

Oil

Crude Oil, Lease Condensate

Brent Crude and WTI Benchmark pricing

Gas

Natural Gas, Associated Gas, Natural Gas Liquids

Henry Hub Benchmark pricing

Source: The Freedonia Group


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Table of Contents

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


List of Tables

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


List of Charts

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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