2022
Snead, Mark C.; Jones, Amy A.
OKLAHOMA'S OIL AND GAS ECONOMY 2022 Technical Report
2022.
Abstract | Links | BibTeX | Tags: Economic Impact, Oil and Gas, Oklahoma
@techreport{nokey,
title = {OKLAHOMA'S OIL AND GAS ECONOMY 2022},
author = {Mark C. Snead and Amy A. Jones},
url = {https://www.regiontrack.com/www/wp-content/uploads/OERB-OK-Oil-Gas-Economy-RegionTrack-2022.pdf},
year = {2022},
date = {2022-01-01},
urldate = {2022-01-01},
abstract = {This report provides a comprehensive assessment of the economic contribution of the oil and gas cluster in Oklahoma. },
keywords = {Economic Impact, Oil and Gas, Oklahoma},
pubstate = {published},
tppubtype = {techreport}
}
2020
Snead, Mark C.; Jones, Amy A.
OKLAHOMA'S OIL AND GAS ECONOMY 2020 Technical Report
2020.
Abstract | Links | BibTeX | Tags: Economic Impact, Oil and Gas, Oklahoma
@techreport{nokey,
title = {OKLAHOMA'S OIL AND GAS ECONOMY 2020},
author = {Mark C. Snead and Amy A. Jones},
url = {https://www.regiontrack.com/www/wp-content/uploads/OERB-OK-Oil-Gas-Economy-RegionTrack-2020.pdf},
year = {2020},
date = {2020-01-01},
urldate = {2020-01-01},
pages = {68},
abstract = {This report provides a comprehensive evaluation of the many channels through which the Oklahoma oil and gas cluster influences economic conditions in the state.},
keywords = {Economic Impact, Oil and Gas, Oklahoma},
pubstate = {published},
tppubtype = {techreport}
}
2016
Snead, Mark C.
Marginal Wells: Fuel for Economic Growth (2016 Report) Technical Report
2016.
Abstract | Links | BibTeX | Tags: Oil and Gas, Oklahoma
@techreport{nokey,
title = {Marginal Wells: Fuel for Economic Growth (2016 Report)},
author = {Mark C. Snead},
url = {https://www.regiontrack.com/www/wp-content/uploads/Marginal-Well-Report-IOGCC-RegionTrack-2016.pdf},
year = {2016},
date = {2016-01-01},
urldate = {2016-01-01},
abstract = {The Interstate Oil and Gas Compact Commission (IOGCC) champions the
preservation of this country’s low-volume, marginally economic wells. The
IOGCC recognizes that it goes to the heart of conservation values to do all
that is possible to productively recover the scarce oil and natural gas resources
marginal wells produce.
The IOGCC defines a marginal well as a well that produces 10 barrels of oil
or 60 Mcf of natural gas per day or less. Generally, these wells started their
productive life producing much greater volumes using natural pressure.
Over time, the pressure decreases and production drops. That is not to say
that the reservoirs which feed the wells are necessarily depleted. It has been
estimated that in many cases marginal wells may be accessing a reservoir
that stills holds two-thirds of its potential value.
However, because these resources are not always easily or economically
accessible, many of the marginal wells in the United States are at risk of
being prematurely abandoned, leaving large quantities of oil or gas behind.
In addition to supplying much-needed energy, marginal wells are important
to communities across the country, providing jobs and driving economic
activity. Today, as the nation ponders the solution to its energy challenges, the
Commission continues to tell the story of how low-volume producing wells can
collectively contribute to a sound energy and economic future.},
keywords = {Oil and Gas, Oklahoma},
pubstate = {published},
tppubtype = {techreport}
}
preservation of this country’s low-volume, marginally economic wells. The
IOGCC recognizes that it goes to the heart of conservation values to do all
that is possible to productively recover the scarce oil and natural gas resources
marginal wells produce.
The IOGCC defines a marginal well as a well that produces 10 barrels of oil
or 60 Mcf of natural gas per day or less. Generally, these wells started their
productive life producing much greater volumes using natural pressure.
Over time, the pressure decreases and production drops. That is not to say
that the reservoirs which feed the wells are necessarily depleted. It has been
estimated that in many cases marginal wells may be accessing a reservoir
that stills holds two-thirds of its potential value.
However, because these resources are not always easily or economically
accessible, many of the marginal wells in the United States are at risk of
being prematurely abandoned, leaving large quantities of oil or gas behind.
In addition to supplying much-needed energy, marginal wells are important
to communities across the country, providing jobs and driving economic
activity. Today, as the nation ponders the solution to its energy challenges, the
Commission continues to tell the story of how low-volume producing wells can
collectively contribute to a sound energy and economic future.
2009
Snead, Mark C.
Are the Energy States Still Energy States? Journal Article
In: FRBKC Economic Review, pp. 43-68, 2009.
Abstract | Links | BibTeX | Tags: Energy, Oil and Gas
@article{nokey,
title = {Are the Energy States Still Energy States?},
author = {Mark C. Snead},
url = {https://www.kansascityfed.org/Economic%20Review/documents/945/2009-Are%20the%20Energy%20States%20Still%20Energy%20States%3F.pdf},
year = {2009},
date = {2009-10-01},
urldate = {2009-10-01},
journal = {FRBKC Economic Review},
pages = {43-68},
abstract = {Traditional energy states managed to avoid the early stages of the recent national recession, buoyed by record-high crude oil and natural gas prices. Both production and exploration for crude oil and natural gas expanded rapidly in response to the spike in energy prices, propelling strong job and income gains in the energy states.
But the strong performance of the energy states through the early stages of the recession subsequently reversed itself under the weight of collapsing energy prices. These states began to underperform non-energy states by the second quarter of 2009. These gyrations in economic activity are reminiscent of the volatility experienced during the 1970s and early 1980s, suggesting that the energy cycle is alive and well in the energy states.
This article examines the economic performance of the energy states in the recent energy price spike and recessionary cycle. The way the economies of the energy states respond to changes in energy prices remains important to businesses, households, and policymakers within these states.},
keywords = {Energy, Oil and Gas},
pubstate = {published},
tppubtype = {article}
}
But the strong performance of the energy states through the early stages of the recession subsequently reversed itself under the weight of collapsing energy prices. These states began to underperform non-energy states by the second quarter of 2009. These gyrations in economic activity are reminiscent of the volatility experienced during the 1970s and early 1980s, suggesting that the energy cycle is alive and well in the energy states.
This article examines the economic performance of the energy states in the recent energy price spike and recessionary cycle. The way the economies of the energy states respond to changes in energy prices remains important to businesses, households, and policymakers within these states.
2008
Barta, Suzette; Snead, Mark C.
THE ECONOMICS OF DEEP DRILLING IN OKLAHOMA - Update 2000-2007 Technical Report
2008.
Abstract | Links | BibTeX | Tags: Oil and Gas, Oklahoma
@techreport{,
title = {THE ECONOMICS OF DEEP DRILLING IN OKLAHOMA - Update 2000-2007},
author = {Suzette Barta and Mark C. Snead},
url = {https://www.regiontrack.com/www/wp-content/uploads/Deep-Wells-Oklahoma-2008.pdf},
year = {2008},
date = {2008-04-03},
urldate = {2008-04-03},
abstract = {A “deep well” is generally defined as a well drilled below depths of 15,000 feet. In February 2005, the Center for Applied Economic Research at Oklahoma State University published a report titled The Economics of Deep Drilling in Oklahoma.3 Using a database of production and cost data on wells drilled at various depths in Oklahoma in the 2000 to 2004 period, the report illustrated how the economic impact of drilling and production activity increased along with well depth. The report estimated that the cost impact of deep wells (15,000 feet and deeper) was 6 times that of shallow wells and that the production impact of deep wells was even greater at 11 times that of shallow wells.
The current report serves as an update to the 2005 study and uses a database of production and cost data for a large sample of deep wells drilled in Oklahoma in the 2000 to 2007 period.},
keywords = {Oil and Gas, Oklahoma},
pubstate = {published},
tppubtype = {techreport}
}
The current report serves as an update to the 2005 study and uses a database of production and cost data for a large sample of deep wells drilled in Oklahoma in the 2000 to 2007 period.
2005
Snead, Mark C.
THE ECONOMICS OF DEEP DRILLING IN OKLAHOMA Technical Report
2005.
Abstract | Links | BibTeX | Tags: Oil and Gas, Oklahoma
@techreport{Snead2005,
title = {THE ECONOMICS OF DEEP DRILLING IN OKLAHOMA},
author = {Mark C. Snead},
url = {https://www.regiontrack.com/www/wp-content/uploads/Economics-of-Deep-Drilling-Snead-2005.pdf},
year = {2005},
date = {2005-00-00},
urldate = {2005-00-00},
abstract = {This report examines the economic implications for Oklahoma of the natural gas industry’s ongoing shift to deep resources in order to meet the growing domestic demand for natural gas. Technological advances and the recent upward shift in baseline energy prices have combined to
enhance the economic viability of drilling for deep reserves below 15,000 feet. Oklahoma is home to some of the nation’s most plentiful deep gas reserves, and the state’s energy companies have played an active role in drilling “deep wells” for more than three decades.
Using a database of production and cost data on wells drilled at all depths in Oklahoma since 2000, the findings indicate that the expected economic impact increases along with well depth and is of a much larger magnitude for deep wells versus traditional shallow wells. The
expected impact is greater for deep wells because drilling becomes increasingly costly and the expected level of gas production is much greater as the depth of the well increases.},
keywords = {Oil and Gas, Oklahoma},
pubstate = {published},
tppubtype = {techreport}
}
enhance the economic viability of drilling for deep reserves below 15,000 feet. Oklahoma is home to some of the nation’s most plentiful deep gas reserves, and the state’s energy companies have played an active role in drilling “deep wells” for more than three decades.
Using a database of production and cost data on wells drilled at all depths in Oklahoma since 2000, the findings indicate that the expected economic impact increases along with well depth and is of a much larger magnitude for deep wells versus traditional shallow wells. The
expected impact is greater for deep wells because drilling becomes increasingly costly and the expected level of gas production is much greater as the depth of the well increases.