As of the latest available data from December 31, 2022, Oklahoma holds 1,830 million barrels of crude oil as proved reserves.
Understanding Oklahoma's Oil Reserves
The figure of 1,830 million barrels represents Oklahoma's proved reserves of crude oil. Proved reserves are estimates of the quantities of petroleum that, by analysis of geological and engineering data, can be anticipated to be economically recovered from known reservoirs under existing economic and operating conditions. These estimates can change over time due to new discoveries, technological advancements in extraction, and fluctuating oil prices.
Oklahoma has a long and rich history in oil and gas production, playing a significant role in the nation's energy supply. The state's geological formations, particularly the Anadarko Basin, have been prolific sources of hydrocarbons.
Oklahoma's Hydrocarbon Resources (As of December 31, 2022)
Oklahoma's energy landscape extends beyond just crude oil, encompassing substantial natural gas and natural gas plant liquids reserves as well. The state is a key contributor to the nation's total energy output.
Here's a breakdown of the state's significant hydrocarbon reserves:
| Resource Type | Quantity | Unit | Period |
|---|---|---|---|
| Crude Oil Proved Reserves | 1,830 million | barrels | 2022 |
| Expected Future Production of Dry Natural Gas | 41,771 billion | cu ft | 2022 |
| Expected Future Production of Natural Gas Plant Liquids | 2,759 million | barrels | 2022 |
These reserves are vital to Oklahoma's economy, supporting numerous jobs, contributing to state revenue, and ensuring a stable energy supply for domestic consumption and export. The continued development and responsible management of these resources remain a priority for the state.
