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.

Image source: inhabitat.com

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.

Image source: doomsteaddiner.net

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.