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Oklahoma 2018

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OKLAHOMA: PRODUCTION FORECAST 42 | November 2018 | hartenergy.com I n recent years, oil and gas prospects in the Mid- continent region have been defined, for better or worse, by the fortunes of the Sooner State. For- tunately for those working this region, fortunes appear to have turned for the better. This year, the Midcontinent will generate slightly more than 5% of total domestic production. Of this, almost all of the oil and gas production will be sourced from Anadarko Basin rocks, and most Anadarko production will come from two leading plays—the Scoop and Stack. At present, more than half of shale and tight rock production from the basin is attributed to the Scoop and Stack plays of Western and Southwestern Okla- homa. The Cana Woodford is the third most pro- ductive play in the mix, as shown in Figure 1. A brief history Oklahoma got into the shale game early on. One of the earliest shale plays on the map was the Arkoma Basin Woodford, a play led by New- field Exploration and worked hard by other operators including PetroQuest. These opera- tors plied the unconventional craft of horizon- tal drilling and hydraulic fracturing to wells in Hughes, Atoka, Pittsburg and Coal counties. Falling gas prices, coupled with relatively high costs arising from complicated geology, spelled the end of this opportunity. For a time, the Granite Wash carried a bright torch as liquids-rich plays enjoyed celebrity. Linn Energy, Chesapeake Energy Corp. and others moved swiftly to lock up acreage in Texas and Oklahoma. But glory was short-lived for the Granite Wash as mixed well results and limited areal extent challenged operators once more. Next came the Anadarko Woodford, or more precisely, the Cana Woodford. Devon and Cimarex established strong positions in this small, but promising resource. But in time, the limited areal extent of this opportunity proved too great and enthusiasm waned. Enter the Scoop and Greater Anadarko Woodford. The Scoop, Stack and Cana Woodford all feast off the Woodford Shale. The Woodford Shale is a prolific source rock that canvasses large swaths of the Sooner State from the Anadarko Basin in the west to the Arkoma Basin in the east to the Ardmore Basin in the south. This Devonian Age rock forms the back- bone supporting Oklahoma oil and gas production. Looking forward Today, Oklahoma's future in oil and gas rests firmly on the Scoop and Stack plays. Although oil and gas prospectors have mined the Anadarko Basin for decades, the promise for growing production in the basin has never been greater. Geological under- standing, drilling and completion technologies, Longer laterals and increased proppant loads contribute to production growth. Scoop, Stack Lead Future Performance of Sooner State By Stephen G. Beck Senior Director, Upstream, Stratas Advisors

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