News from the Oklahoma Corporation Commission

OKLAHOMA CITY – Oklahoma oil production in January was down 32.27 percent and gas production was down 37.17 percent from production levels in January 1998, according to preliminary production figures for both years, the Corporation Commission reported. January oil production totaled 4,616,205 barrels, compared with 6,816,035 barrels in January 1998. Gas production was 99.553 billion cubic feet, compared to 158.448 billion cubic feet a year ago. The figures are compiled from production reports filed with the Oklahoma Tax Commission.

Commissioner Denise Bode said the decrease in production is due largely to the depressed prices of the past year, and she said no quick recovery is expected.

"We are not likely to see a turnaround in this production decline in the near future even though prices have recovered somewhat. That is because it generally takes six months to a year for operators to develop confidence in the stability of the market to start investing again in exploration and production," Bode said.

Carter County led the state in oil production in January with 624,673 barrels. The other Top 10 oil-producing counties, in order, were Grady, 378,965 barrels; Stephens, 357,023 barrels; Texas, 321,572 barrels; Garvin, 240,054 barrels; Pontotoc, 208,823 barrels; Osage, 162,683 barrels; Lincoln, 161,612 barrels; Creek, 159,398 barrels; Pottawatomie, 130,871 barrels.

The Top 10 gas-producing counties were Latimer, 9.902 billion cubic feet; Roger Mills, 8.621 bcf; Grady, 7.373 bcf; Canadian, 6.210 bcf; Custer, 5.534 bcf; Pittsburg, 5.357 bcf; Texas, 5.115 bcf; Coal, 4.641 bcf; Caddo, 4.357 bcf; Washita, 3.730 bcf.

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