Oklahoma rocks : energy, 2010 Lesson 5

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Investing in
Oklahoma’s Future
Lesson 5
Energy companies large and small are investing in the future with projects ranging from new oil
and gas developments here in Oklahoma to pursuing alternative energy advances.
Oklahoma City-based Devon Energy is optimistic about the amount of natural gas from the
“Cana Play,” an area covering 240,000 acres in central Oklahoma. Chesapeake is increasing
its work in the Anadarko Basin in the western part of the state, and Continental Resources has
added land to its holdings in the Woodford Shale.
Besides oil and gas, GE Energy is investing $65 million in a wind farm project being built near
Woodward and Dell recently finished a project investing in wind technology which now supplies
100 percent of the power for its Oklahoma City offices. Oklahoma currently ranks 10th among
states for its wind energy production, but has the potential to become the second-largest
producer by the year 2030.
Marginal wells — those that produce less than 10 barrels of oil or 60 MCF of gas per day —
comprise 78 percent of oil production and 12 percent of natural gas production in Oklahoma.
There are 65,504 marginally producing oil and gas wells across the state.
Activities:
1. Using the oil and gas field map in your “Oklahoma Rocks! Energy” workbook, trace the
major oil and gas fields on a map of Oklahoma and identify towns located in those areas
of the fields. Discuss how the wells’ revenue is important for local taxes, jobs,
and income for owners of mineral rights. Find out if your town has a history of oil or
natural gas production and what contributions any such energy companies have made to
your community.
2. Oklahoman T. Boone Pickens is a prominent player in energy nationwide. In 2008 he
announced his “Pickens Plan” to change how the U.S. approaches its attitude toward
energy. Visit www.pickensplan.com to learn more. Analyze one component of the plan
for its potential benefits as well as potential flaws.