American Oil Investment

by Gord McKenna

Write-up by We Hit Oil

Oklahoma Oil and Gas

Oklahoma's prominent location in the oil industry is fortuitous, a result of encompassing the bulk of the hydrocarbon rich Anadarko, Arkoma, and Ardmore geologic basins and their associated shelves and platforms. The sedimentary basins that have yielded the bulk of Oklahoma's oil production are mostly Pennsylvanian in age, but oil and gas reservoirs across the State range from Cambrian to Cretaceous. The initial commercial paying properly, the Nellie Johnstone No. 1, was drilled in 1896 near Bartlesville (Washington County). Completed in 1897 as the discovery nicely for the giant Bartlesville-Dewey Field, the properly ushered in the oil era for Oklahoma Territory.

Right after the turn of the century, discoveries were produced in rapid succession in areas that would ultimately encompass a lot of of the 26 main oil fields. All but five of the majors were discovered before the end of World War II the last of them, the Postle Field, was discovered in Texas County in 1958(Northcutt, 1985). Even though the 26 majors constitute only about 1% of the total number of fields, they account for 59% of the total oil produced (Lay, 2001). Until overtaken by California in 1923, Oklahoma remained the leading producing state in the U.S. (Hinton, 2001). Peak annual production of 278 million barrels (762,000 bbls/day) was reached in 1927, with several intermediate highs and lows given that then. The peaks and valleys result from adjustments in the quantity of wells drilled and completed as well as from the size of the fields becoming found.

Tulsa - the city that oil built

Tulsa has long been recognized as the oil capital of the world and the city that oil built. The rise of Tulsa to a location of preeminence in the petroleum industry began on June 25, 1901, when a well was brought in at Red Fork across the Arkansas River to the southwest. Tulsa leaders caused a bridge to be built between the two points and national publicity focused attention on Tulsa as a center of a new oil region. When a main oil strike took location at the nearby Glenn Pool, on November 22, 1905, the production of oil in the region became so wonderful that the term "Oil Capital of the World" was universally applied to Tulsa. Other fields were discovered and developed in adjacent areas to a point where, for a time, it was the largest oil producing center on earth.

Tulsa remained in the forefront of exploration and development, financing, equipment manufacturing, and provided skills and executive direction for a growing, worldwide business - hence continued to hold the title: Oil Capital of the World.

About the Author

Looking for out accredited US and International Investors to rework existing oil wells and new drills in Oklahoma. Outstanding payback with low risks compared to other oil investments.