OK Oil Production to Increase | Russell T. Rudy Energy LLC
Harold Hamm, the CEO of Continental Resources, thinks that Oklahoma is on the verge of a significant rise in oil production, according to a recent article in “Rigzone”.
The Sooner State provided tax incentives for horizontal drilling which is now being used to develop 12 different plays across the state. March 2014 production is up 17% over last year and 80% above 2010 levels. The state is currently producing 388,000 barrels of oil per day and is the 5’th largest oil producing state. However, if current trends continue, Oklahoma will surpass California and Alaska within the next year, making it the number three oil producer behind only Texas and North Dakota.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/133476/Oklahoma .
