subject: Oklahoma Oil and Gas [print this page] Oklahoma Oil and Gas Oklahoma Oil and Gas
Oklahoma's prominent place in the oil industry is fortuitous, a result of encompassing the bulk of the hydrocarbon rich Anadarko, Arkoma, and Ardmore geologic basins and their associated shelves and platforms. The sedimentary basins that have yielded the bulk of Oklahoma's oil production are mostly Pennsylvanian in age, but oil and gas reservoirs across the State range from Cambrian to Cretaceous. The first commercial paying well, the Nellie Johnstone No. 1, was drilled in 1896 near Bartlesville (Washington County). Completed in 1897 as the discovery well for the giant Bartlesville-Dewey Field, the well ushered in the oil era for Oklahoma Territory. After the turn of the century, discoveries were made in rapid succession in areas that would eventually encompass many of the 26 major oil fields. All but five of the majors were discovered before the end of World War II; the last of them, the Postle Field, was found in Texas County in 1958(Northcutt, 1985). Although the 26 majors constitute only about 1% of the total number of fields, they account for 59% of the total oil produced (Lay, 2001). Until overtaken by California in 1923, Oklahoma remained the leading producing state in the U.S. (Hinton, 2001). Peak annual production of 278 million barrels (762,000 bbls/day) was reached in 1927, with several intermediate highs and lows since then. The peaks and valleys result from changes in the number of wells drilled and completed as well as from the size of the fields being found.
Owners are looking to expand into newly acquired leases and seek accredited investors, both US and International, for rework on existing oil wells and new drills.
Owners own the oil service company and work with leading local consultants with very respectable credentials.
If you are looking to invest in shallow wells with low overhead costs and high returns this is it!
Thousands of acres are open.
Limitless investments from $50,000 to $3 million. If you have extra funds and want to invest in oil this is it. Potential 1 to 2 year return on your investment.
80 years ago this area produced lots of oil.
40 years ago these same wells were pressured and produced lots of oil.
Now these same wells need to be worked on with newer technologies in order to produce more oil again.
