{"id":5869,"date":"2015-06-21T22:06:22","date_gmt":"2015-06-22T03:06:22","guid":{"rendered":"https:\/\/www.regiontrack.com\/www\/?p=5869"},"modified":"2015-06-21T22:06:22","modified_gmt":"2015-06-22T03:06:22","slug":"oklahoma-oil-producers-wrestle-massive-revenue-swing-in-2015-06222015","status":"publish","type":"post","link":"https:\/\/www.regiontrack.com\/www\/oklahoma-oil-producers-wrestle-massive-revenue-swing-in-2015-06222015\/","title":{"rendered":"Oklahoma Oil Producers Wrestle Massive Revenue Swing in 2015"},"content":{"rendered":"<p><strong>Oklahoma&#8217;s crude oil producers are expected to experience a 38.1% drop in revenue from crude oil production in 2015.\u00c2\u00a0<\/strong>In dollar terms, this reflects\u00c2\u00a0a $4.35 billion swing from the record $11.4 billion in crude oil\u00c2\u00a0revenue produced in 2014. Our pic of the week illustrates\u00c2\u00a0both\u00c2\u00a0the amount and\u00c2\u00a0value of crude oil produced annually in Oklahoma since 1981.<\/p>\n<p><!--more-->We currently expect 2015 to be a year of sharply falling prices offset in part by slightly rising production on a year-over-year basis. <strong>The 2015 estimate reflects our current outlook of 136.0 million barrels of production this year, up 6.25% from the 128 million barrels produced in 2014, and\u00c2\u00a0an expected average price of $52\/barrel for the full year.<\/strong> The average price for the first quarter is slightly below $45\/barrel.\u00c2\u00a0<a href=\"https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5872 size-full\" src=\"https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg\" alt=\"potw_1_20150622\" width=\"561\" height=\"698\" srcset=\"https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg 561w, https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-241x300.jpg 241w, https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-200x249.jpg 200w, https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-400x498.jpg 400w\" sizes=\"auto, (max-width: 561px) 100vw, 561px\" \/><\/a><\/p>\n<p><strong>This is certainly a large expected decline in revenue, but it\u00c2\u00a0is far from unprecedented on a percentage basis.<\/strong> The largest drop in in the period occurred in 1986 as\u00c2\u00a0production value plunged 49.6% near\u00c2\u00a0the end of the Oil Bust. More recently, production value dropped 41.8% in 2009 as oil prices collapsed during\u00c2\u00a0the recession. A similar decline of 37.8% took place in 1998 as the industry hit rock bottom under extremely low crude prices.<\/p>\n<p style=\"text-align: center;\"><a title=\"Sign up for our Pic-of-the-Week\" href=\"http:\/\/www.regiontrack.com\/www\/pick-of-the-week-web-signup\/\" target=\"_blank\">Sign up<\/a>\u00c2\u00a0to receive RegionTrack&#8217;s PIC OF THE WEEK!<br \/>\n[email_link]\n","protected":false},"excerpt":{"rendered":"<p>Oklahoma&#8217;s crude oil producers are expected to experience a 38.1% drop in revenue from crude oil production in 2015.\u00c2\u00a0In dollar terms, this reflects\u00c2\u00a0a $4.35 billion swing from the record $11.4 billion in crude oil\u00c2\u00a0revenue produced in 2014. Our pic of the week illustrates\u00c2\u00a0both\u00c2\u00a0the amount and\u00c2\u00a0value of crude oil produced annually in Oklahoma since 1981.<\/p>\n","protected":false},"author":1,"featured_media":5872,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,13,1],"tags":[31,72,73],"post_series":[],"class_list":["post-5869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-graphic","category-pic-of-the-week","category-uncategorized","tag-crude-oil","tag-oil-and-gas","tag-oklahoma","entry","has-media"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"thumbnail":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-150x150.jpg",150,150,true],"medium":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-241x300.jpg",241,300,true],"medium_large":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"large":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"1536x1536":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"2048x2048":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"lightbox":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"search_results":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-125x125.jpg",125,125,true],"blog_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622-250x150.jpg",250,150,true],"blog_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"blog_post_full":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"blog_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"portfolio_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"portfolio_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"portfolio_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"staff_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"staff_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"staff_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"testimonials_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"testimonials_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false],"gallery":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20150622.jpg",561,698,false]},"uagb_author_info":{"display_name":"mcsnead","author_link":"https:\/\/www.regiontrack.com\/www\/author\/mcsnead\/"},"uagb_comment_info":0,"uagb_excerpt":"Oklahoma&#8217;s crude oil producers are expected to experience a 38.1% drop in revenue from crude oil production in 2015.\u00c2\u00a0In dollar terms, this reflects\u00c2\u00a0a $4.35 billion swing from the record $11.4 billion in crude oil\u00c2\u00a0revenue produced in 2014. Our pic of the week illustrates\u00c2\u00a0both\u00c2\u00a0the amount and\u00c2\u00a0value of crude oil produced annually in Oklahoma since 1981.","_links":{"self":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts\/5869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/comments?post=5869"}],"version-history":[{"count":0,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts\/5869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/media\/5872"}],"wp:attachment":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/media?parent=5869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/categories?post=5869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/tags?post=5869"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/post_series?post=5869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}