North Midcontinent Region - Petroleum Technology News - Second Publication 2004

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Kansas Oil Production on the Rise

The state is on a run of five straight years of increased production. And if current trends continue, the state’s oil fields will produce more oil than they have for any year since the mid-1990s. Oil production in the state during 2004 should be up about 1.1 percent from last year, and up about 3 percent over 2002. At current rates, 2004 production would total 34.3 million barrels, or about 94,000 barrels per day.

This up tick in production is really because of the increase in oil prices. With prices for Kansas crude staying pretty consistently above $25 per barrel, companies can afford to invest in the technology to maintain and increase production from old wells, and to explore for new resources.

The current string of five straight years of increased production, from 1999 to the present, is one of the few times that production has increased since the 1950s, and it’s the longest period of increased production since the early 1980s.

Kansas isn’t the only Great Plains state that’s seeing an increase in production. Colorado production is up about 3 percent over last year, North Dakota is about 5 percent, and Montana production is up slightly. Kansas produces more oil than those states, however, ranking eighth among the nation’s states in oil production (source: Kansas Geological Survey).

Kansas Monthly Oil Production and Average Monthly Price.

 

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