Medical and Hospital News  
OIL AND GAS
EIA revises Oklahoma oil production higher
by Daniel J. Graeber
Washington (UPI) Feb 12, 2016


disclaimer: image is for illustration purposes only

A revised survey from the U.S. Energy Information Administration raised the estimated daily oil production from Oklahoma by 100,000 barrels.

The EIA said it revisited reported production figures from 2014-15 with energy companies working in the state and revised how it calculated data after a review with Oklahoma state officials, vendors and operators.

"The new estimates are roughly 100,000 barrels per day more than those generated by the previous EIA methodology," it said in a daily briefing.

Oklahoma is one of the top 5 oil production states in the nation, accounting for an average of between 3 percent and 4 percent of the total output in the United States. EIA's most recent data set show Oklahoma holds about 1.2 million barrels of oil.

The state nevertheless is feeling the pressure from declining crude oil prices. Oil services company Baker Hughes, which provides key metrics for the industry, reported Oklahoma shed 8 rigs to record 80 in service for the week ending Feb. 8, a 9 percent decline from the previous week.

When U.S. crude oil prices soared above $110 per barrel two years ago, Oklahoma had one of the fastest growing economies in the country. With oil below $30 per barrel, the state has a $1 billion budget gap.

In her annual State of the State address last week, Oklahoma Gov. Mary Fallin said state agencies may be facing budget cuts of at least 10 percent in part because of the pressure from lower oil prices. The steep drop in crude oil prices, she said, has "a tremendous impact on our revenue."

A state report from January said declines in the mining and extractive industries, which includes oil and gas, subtracted more than two percentage points from real gross domestic product growth in Oklahoma.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
PBF Energy reports lower income
Parsippany, N.J. (UPI) Feb 11, 2016
U.S. refiner PBF Energy said it was sharing the pain of its upstream counterparts with a reported fourth quarter income about 20 percent lower year-on-year. PBF Energy, which has headquarters in New Jersey, reported fourth quarter income of $167.7 million, down from the $208.6 million reported in fourth quarter 2014. Data from the U.S. Energy Information Administration show refin ... read more


OIL AND GAS
NATO to debate Turkey call for migrant help

Survivors including child pulled alive from Taiwan quake rubble

Indian soldier rescued after six days in Himalayan avalanche

China calls for more than 120 to be punished over chemical blast

OIL AND GAS
China to launch nearly 40 Beidou navigation satellites in five years

45th SW supports Air Force GPS IIF-12 launch aboard an Atlas V

United Launch Alliance launches GPS IIF-12 satellite for U.S. Air Force

Chip enables navigation aids for the visually impaired

OIL AND GAS
Wirelessly supplying power to brain

Humans evolved by sharing technology and culture

DNA evidence uncovers major upheaval in Europe near end of last Ice Age

How environmental awareness helped the Bushmen to poison their game

OIL AND GAS
The odor of stones

Study: Humans to blame for half of large carnivore attacks

The evolution of Dark-fly

Scientists celebrate as lions rediscovered in Ethiopian park

OIL AND GAS
Brazil's anti-Zika war goes house to house

Water crisis increases Zika threat in Venezuela

Spanish missions triggered meso american population collapse

Descendants of Black Death confirmed as source of repeated European plague outbreaks

OIL AND GAS
'Dead' Chinese baby awakes just before cremation

Dozens hurt as riot erupts in Hong Kong

Hong Kong kicks off Year of Monkey, but primate relations sour

Lunar New Year turbulence as 'fire monkey' swings into action

OIL AND GAS
Two Mexican marines, suspect killed in shootout

U.S., U.K. help build West African partners' anti-piracy capabilities

OIL AND GAS
Carbon reductions won't hinder Chinese growth

Norway's massive wealth fund pulls out of 73 companies

Peering into the abyss: China P2P investors face $7.6 bn losses

Eurozone growth forecast cut on China, migrant risks









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.