Oklahoma: Brimming With Oil And Gas Investment Opportunities

According to Fraser Institute, a Vancouver-based think tank’s, Global Petroleum Survey in December 2016, Oklahoma was considered the most attractive place for oil and gas investment.

The study considered several factors that act as barriers to investing in the region, including “high tax rates, costly regulatory demands, political stability, and uncertainty over potential environmental regulations.” Numerous executives in the industry were the respondents.

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The oil and gas industry is showing a decline all over the world. But places like Oklahoma are showing that there is still confidence in the sector, which can boost the growth of and promote investment in the industry.

There are various reasons that Oklahoma is an economically and politically conducive state for oil and gas investment. For one, it is one of the top five in the list of most productive oil- and natural gas-producing states. Four percent of the total U.S. crude oil production is derived from the state, while seven to 8 percent of the country’s marketed natural gas production comes from the Oklahoma.

Another is the abundance of shale formations within state borders. The 3,300-square-mile Ardmore-Woodford formation alone holds 400 million barrels of recoverable petroleum. Operators also have their eyes set on the Mississippian Line formation because of the potential amount of recoverable reserves in the region.

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The use of modern drilling technologies, namely, fracking and horizontal drilling technologies, has also made its way to the state. This provides a more efficient alternative to traditional methods primarily used in Oklahoma.

Cody Winters considers his Oklahoma roots and desire to follow in the footsteps of his grandfather as few of his primary reasons for entering the oil and gas industry. For more articles about the industry, visit this blog.

Which Country Has The Greatest Oil Reserves To Date?

Saudi Arabia has always been a big name in the global oil industry. But in a recent turn of events, the United States was named as the country holding the most number of oil reserves in the world. This information came from Rystad Energy, a consultancy firm based in Norway.

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The firm further estimated that the United States holds 264 billion oil barrels, and more than half of this is in shale. This total exceeds the number of barrels found in Russia (256 billion) and Saudi Arabia (212 billion), placing said countries in second and third place, respectively.

These findings counter the normal perception that Venezuela and Saudi Arabia hold the earth’s biggest oil reserves. According to Rystad Energy, Venezuela only has 95 billion barrels, including its undiscovered oil fields. The company also argues that countries do not have a uniform way of measuring oil reserves. But Rystad, for its part, applied a standardized metric for the purpose of comparison. Texas alone has about 60 billion barrels of oil.

Nobody knows the true amount of Saudi’s oil reserves, which remains a closely guarded state secret. However, the Deputy Crown Prince, Mohammed bin Salman, has recently initiated an economic transformation, which involves weaning the economy from its dependence on oil sales. This transition includes the partial IPO of Saudi Aramco, and the state is looking into taxing the population for their consumption of oil.

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Cody Winters is the founder and president of Southlake Resource Group. Mr. Winters has been making a name in the oil and gas industry in the past decade. Visit this blog for more updates on the energy industry.