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Oklahoma's oil and gas operators haven't completely abandoned drilling vertical, or "straight hole" wells, Corporation Commission records show. It reported that 197 wells of the 1,003 completed in 2016 were straight hole wells. Granted, that's down from a recent high of 858 vertical wells permitted in 2011 and completed by June the following year, when that represented about 42 percent of the 2,082 that year. But while an industry analyst and a driller are quick to agree that much of the media and general public focuses their attention now on horizontal drilling and production, they add that the tried and true process of drilling and producing vertical wells won't become extinct anytime soon. Russell Evans, an economics professor who directs the Steven C. Agee Economic Research & Policy Institute, regularly analyzes trends in the state's oil and gas industry for trade groups and banking officials. He said continued drilling and production of vertica…

  Average Daily Recovery Rate of 70 MCF Assume 2,000 BTU vapor at $8/MCF Daily= 70 MCF ×2 (accounting for BTUs) ×$8/MCF = $1,120 daily Monthly= $1,120/day ×30 days = $33,600 monthly Annually= $33,600/month ×12 months = $403,200 annually Is Recovery Profitable? Financial Analysis for a Conventional VRU Project Peak Capacity(Mcf/day) Installation & Capital Costs1 ($) O&M Costs ($/year) Value of Gas2 ($/year) Annual Savings ($) SimplePayback (months) Internal Rate of Return 25 $35,738 $7,367 $42,203 $34,836 13 94% 50 $46,073 $8,419 $84,406 $75,987 8 164% 100 $55,524 $10,103 $168,812 $158,709 5 286% 200 $74,425 $11,787 $337,625 $325,838 3 438% 500 $103,959 $16,839 $844,062 $827,223 2 796% 1 – Unit cost plus estimated installation of 75% of unit cost 2 – $9.25 x ½ peak capacity x 365, Assumed price includes Btu enriched gas (1.289 MMBtu/Mcf)    

When an industry is in a down-turn, companies start thinking of ways to save money.  It comes with the territory.  All of us in the oil and gas industry are dealing with this right now.  The first budget cuts are usually made to advertising and marketing.  But did you know that cutting back on advertising is actually one of the worst things you can do for your company? Sure, you're saving money in the short-term, but it's not benefiting you in the long run.  Just because an industry is in a down-turn, doesn't mean that consumers magically disappear and go away.  They're still there and they're more selective than ever.  They're going to be looking for alternative companies to do business with as companies are closing their doors and going out of business.  The oil and gas industry is slowing, but it's not stopping.  The existing wells and rigs are still going to need parts, supplies and services. The consumers are going to be shopping around and looking for ways to save m…

Texas Allocates $4.47M to Seismic Monitoring Program “This program will set a much better baseline for Texas seismicity,” Dr. Scott Tinker, state geologist of Texas, said. By Jennifer Delony Texas Gov. Greg Abbott in June signed legislation that authorized $4.47 million in funding for the TexNet seismic monitoring program, which will be led by the Bureau of Economic Geology – State Geologic Survey of Texas – at University of Texas at Austin. “This program will set a much better baseline for Texas seismicity,” Dr. Scott Tinker, state geologist of Texas and director of the Bureau of Economic Geology, told Oilman on June 24. “Understanding Texas base level seismicity can help in many ways not just related to disposal of fluids from oil and gas wells; we have a lot that goes on in Texas – industrial as well as natural.” According to Tinker, the program will help Texas lead a national response to growing concern over increases in seismic activity. “We are forming…

Oklahoma drilling regulator calls recent spike in quakes a "game changer" Jun 24 2015, 18:57 ET | By: Carl Surran, SA News Editor A spike in earthquakes across Oklahoma is forcing the state's energy regulator to urgently consider tougher restrictions on drilling activity, calling it a "game changer." During the June 17-24 period, Oklahoma experienced 35 earthquakes of magnitude 3.0 or greater, according to the Oklahoma Geological Survey, with some of the quakes occurring in the Oklahoma City metro area where there are no high-volume wastewater injection wells. The spike in quakes comes two months after drillers were ordered by the Oklahoma Corporation Commission, which regulates the oil and gas industry, to stop disposing wastewater below the state's deepest rock formation. Oklahoma's elected officials have been reluctant to shackle an industry that directly generated more than 7% of state revenues last year in the form of production taxes from companie…

How to get high paying Truck Driving Job   First steps to apply for Class A CDL Job Openings Contact a Truck Driving School , or You can do it yourself. Here’s how go to your local driver’s license exam location pick up a CDL Book. I would suggest spending a couple weeks and read the book twice. Go take the test find some one that will get you some driving time and pointers for the next 6 months. It doesn't have to be an everyday thing , just till your confident ! Then you will be ready for your final exam! Apply for any open jobs at local or over the road distribution warehouses, this is a job way to work your way up to a Class a Driver job. This are types of companies you may want to look for a job with : retail stores, moving companies, lumber yards, utilities companies, overnight shipping companies and automobile dealers.You should contact all local unions like Teamsters, or heavy equipment unions they are always looking for good cdl drivers If you …

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