Oil Exploration Continues in Oklahoma Despite Falling Prices

Oil prices might be around $27 to $28 a barrel, but exploration companies keep drilling in Oklahoma as witnessed by some of the latest completion reports published on OK Energy Today.

Oklahoma City-based Continental Resources filed completion reports on six wells that were actually finished and brought on line in Dec. of 2015 in the Woodford play in Stephens County. All were within several miles of one another in a popular area about 15 miles south of Lindsay and just northwest of the community of Foster. While they were not monster wells—none produced more than 1,000 barrels of oil daily, they ranged from a low of 470 barrels a day to 910 barrels a day. Each was completed last month.

Northwestern Oklahoma continues to see exploration as well as Newfield Exploration reports completion of two wells in Kingfisher County. The wells, drilled in the Mississippian play, were actually completed in July of 2015 northwest of Kingfisher. One produced 890 barrels of oil daily while the second brought in 790 barrels a day.

SandRidge Energy continues its drilling activity in Alfalfa county where the company also operates dozens of wastewater injection wells. SandRidge recently completed three wells in the county. They were small wells with the largest producing 268 barrels of oil daily out of the Mississippian play. The wells are also located several miles south of Cherokee.


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