Low oil prices don’t sway some firms from more drilling in Oklahoma

With a slight uptick in oil prices, energy companies aren’t backing off new drilling efforts in Oklahoma. Many are planning new projects.

Wednesday’s release of permits to drill show Oklahoma City-based Continental Resources Inc. plans a three-well, single-pad effort at a site about 6 miles southwest of Blanchard in Grady County. The Z21 wells will be located at 17 7N 5W net to US 62 highway.

EOG Resources Inc., the Houston company’s whose stock jumped nearly 5 percent in Wednesday’s trading received a permit to drill in McClain County. The LeFlore 1015#8H is to be drilled at 10 8N 4W or just north of Blanchard along the H.E. Bailey Turnpike’s Norman spur.

Chisholm Oil and Gas Operating LLC plans to drill in Blaine County. The Buffalo Heifer 18-10-32#1MH will be located at 05 17N 10W or about four miles northeast of Hitchcock.

In Major County, Trans Pacific Oil Corp., a firm headquartered in Wichita, Kansas plans to drill close to the state line. The T3 A#2-36R will be located about four miles northeast of the community of Capron at 36 29N 13W. Trans Pacific Oil Corp. is a firm that specializes in shallow production wells which it says “means relatively low drilling, completion and production costs.”

 

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