What is producer education?
The Producer Education Program is designed to help our state’s oil and gas producers continue developing and producing Oklahoma’s natural resources.
The program includes a deep and thorough collection of helpful content focused on marginally producing wells and small operators. We also sponsor ongoing workshops and roundtables and provide grants to further innovation and technology. We hope you’ll explore our site and what we have to offer. It’s just one more way we support our state’s oil and natural gas producers.
Our mission is simple: Encourage new processes and technology advancements to sustain the oil and natural gas industry for the benefit of the people of Oklahoma and to advance the interests and opportunities for small producers.
Where does the funding come from?
The Producer Education Program is just one of the many activities voluntarily funded by an assessment on oil and natural gas production in Oklahoma. It’s a one-of-a-kind program with two main pillars – education about and for our industry and well site restoration.
What is a marginal well?
A marginal well is about economic viability or whether the extraction of oil and gas is profitable. To be designated as a marginal well depends on oil prices and the cost of production. A marginal well becomes unprofitable to produce whenever oil and/or gas prices drop below its crucial profit point. A producing well that requires a higher price per MCF or per barrel of oil to be worth producing, due to low production rates and/or high production costs from its location (e.g., far offshore, in deep waters, onshore far from good roads for oil pickup and no pipeline) and/or its high co-production of substances that must be separated out and disposed of (e.g., saline water, nonburnable gases mixed with the natural gas). On land, this is often but not always a stripper well. (Interstate Oil and Gas Compact Commission)
What is a stripper well?
For tax purposes, a “stripper well” is defined as any well whose maximum daily average oil production does not exceed 15 barrels of oil, or any natural gas well whose maximum daily average gas production does not exceed 90 MCF of gas per day during any 12-month consecutive time period. The term stripper well is often used interchangeably with the term “marginal well,” although they are not the same. (Tax code of the United States Internal Revenue Service, 1986). Stripper wells make up a significant portion of America’s oil and natural gas production. While these wells may produce less oil and natural gas per day, they account for over 7.4% of U.S. oil production and 8.2% of natural gas production. (Energy and Industrial Advisory Partners)
Sign up for workshops and expand your knowledge
and know-how.
Throughout the year, we sponsor workshops for industry people and professionals. Give us your email, and we’ll keep you informed about upcoming events, either online or in person.
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