Drilling grows outside Oklahoma’s core oil fields
The Associated Press and The Oklahoman - August 18, 2018 9:35 am
(Information from: The Oklahoman, http://www.newsok.com)
WOODWARD, Okla. (AP) – Oil production continues to expand throughout Oklahoma, including in areas outside the state’s two core fields.
The Oklahoman reports that the STACK and SCOOP fields are dominated by larger, independent oil companies that include Continental Resources Inc., Devon Energy Corp., and Newfield Exploration.
But smaller, private companies report strong results in other parts of the state, such as the Merge between STACK and SCOOP, the Anadarko Basin in western Oklahoma, and the Arkoma Stack in southeast Oklahoma.
Operators say the state’s oil fields have the benefit of being near several pipelines, storage facilities, processing plants, and refineries. However Oklahoma’s production prices have been discounted as local producers face higher transportation costs.
Oklahoma’s production normally goes north to Midwest markets, which are now served by production in Ohio and Pennsylvania.