Papers - Domestic Production - Petroleum Developments in Oklahoma during 1929 (With Discussion)

In considering historically oil development in Oklahoma, it must be recognized that basic evolutionary factors interlock and have an effect in common throughout the whole oil industry, regardless of locality or minor problems. Oklahoma, as the third in rank of oil-producing states (Texas being first and California second in production for 1929) has, like the rest, advanced to at least a partial recognition of the words, "Conservation," "Unitization," "Curtailment," "Prora-tion," and especially "Cooperation." Whether through altruism (of which there have been examples) or by exercise of good business common sense, Oklahoma operators realize that the oil business can run itself by cooperative action for the good of all. In this long-continued period of overproduction, Oklahoma has brought the advancing output down to limit of market requirements at least temporarily. Sources of Statistical Data For this paper, figures published by four recognized authorities were consulted. Between themselves these vary only a negligible per cent, in their totals. To be consistent, and on account of earlier availability the estimates published by the Oil and Gas Journal are mainly used herein, supplemented from other public and private sources. General Oil ProdCction in Oklahoma In 1927 Oklahoma's peak of all years was 276,022,024 barrels. In 1928 Oklahoma's total production was 247,500,851 barrels. In 1929 Oklahoma's total production was 252,229,474 barrels. The efforts of proration and curtailment programs on flush and semi-flush districts such as Greater Seminole, Oklahoma City, Logan County and others, with the natural decline of older pools, kept 1929 below 1927, but still the total was greater than in 1928. The total United States production for 1929 is herein taken as estiiated at 1,004,266,723 bbl.† Oklahoma produced 25.1 per cent. Of