News from the Oklahoma Corporation Commission Office of Public Information — Phone: (405) 521-4180 FAX (405) 521-6945

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Contact: Patrick K. Petree Reference: O&G31700-18

Oklahoma’s 1999 Oil Production May be the Lowest in 86 Years

OKLAHOMA CITY – Preliminary figures compiled by the Oklahoma Corporation Commission indicate Oklahoma oil production in 1999 may be the lowest in 86 years.

The figures place 1999 production at 70,063,042 barrels, the fewest since 63,579,000 barrels of oil were produced in 1913.

The 1999 figures will increase as late production reports are filed with the state Tax Commission, but they are not expected to gain the 7.7 million barrels needed to equal 1998 production of 77,796,579 barrels, or even the 3.5 million barrels needed to equal 1914 production of 73,632,000, Larry Claxton, Corporation Commission statistics manager, said.

The preliminary figures also indicate that gas production declined to a 33-year low.

Production of 1.541 trillion cubic feet of gas in 1999 was the least since 1.427 trillion cubic feet in 1966. Gas production in 1999 was about 6.5 percent below 1998 production of 1.649 trillion cubic feet.

Oklahoma oil production has declined for 15 consecutive years, from 168,604,000 barrels in 1984. Gas production has declined for six consecutive years, from 2.016 trillion cubic feet in 1993.

December oil production was 5,446,327 barrels, an average of 175,688 barrels per day. Carter County was the leading oil-producing county with 656,865 barrels.

December gas production was 99.5 billion cubic feet, or 3.2 billion cubic feet per day. Latimer County was the leading gas-producing county with nearly 9.6 billion cubic feet.

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