News from the Oklahoma Corporation Commission

Jim Palmer, Director of Information

June 16, 2000

(OKLAHOMA CITY) The downward trend of Oklahoma Oil and Gas production continues as the prices go up. Larry Claxton, manager of oil and gas statistics for the Commission, said preliminary figures for March 2000 show a 13.2% drop in crude oil production while the average price for a barrel of crude oil rose $0.77 or 2.7% to $29.38. A 4% decline in March natural gas production was accompanied by an average nickel or 2% price increase to $2.46 per million cubic feet (mcf).

The average price of Oklahoma natural gas is up 54% over the same period last year while crude oil prices are up about 155% over the same time in 1999.

Total liquids for March were 5,180,771 barrels. Total March gas reached 108,594,173 mcf.

Oklahoma’s crude oil production for the year through March totals 16,321,265 barrels. Natural gas production through March of this year totals 326,612,075 mcf.

The heaviest natural gas producing counties in the state during March were Latimer in southeastern Oklahoma with 9,715,491 mcf. Grady county in southcentral Oklahoma came in second with 7,747,483 mcf followed closely by Roger Mills and Texas counties in western Oklahoma.

Counties with the highest totals in crude oil production were lead by Carter county in southcentral Oklahoma with 644,205 barrels. Stephens, Texas and Osage counties each produced just over 300,000 barrels each while Grady and Garvin counties producing approximately 294,000 and 244,000 barrels respectively.

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