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Marginal Wells: Fuel For Economic Growth

Wellhead Prices

Wellhead prices shown in Table 2 are derived from data gathered directly from the various state agencies and the EIA. ese statistics show that the weighted average wellhead price was $60.05 per barrel of oil, versus 2005’s average of $51.14 per barrel. e weighted average price for gas was $6.51 per MCF, versus 2005’s average of $7.44 per MCF.

I n t h i s y e a r s r e p o r t , s t a t e - b y - s t a t e w e l l h e a d o i prices were available from the EIA, but not for l

natural gas. Estimates for state gas prices were determined using the ratio of state to national prices observed from the EIA’s 2005 data and applied to the EIA’s 2006 nationwide wellhead gas price estimate of $6.42 per MCF. Production from Alaska and Federal Offshore areas (OCS) were excluded from the analysis since there is es- sentially no marginal production from these areas and the large volume of their production tends to skew the data. is accounts for the difference in total U.S. price as shown in this report, $6.51 per MCF, and the EIA nationwide wellhead price of $6.42 per MCF.

Table 2: 2006 Wellhead Prices

California

$12,812,566

223,449

$57.34

$2,104,469

322,519

$6.53

Colorado

$1,297,501

20,337

$63.80

$7,644,584

1,174,719

$6.51

Kansas

$2,134,161

35,136

$60.74

$2,085,263

365,720

$5.70

Louisiana

$4,789,631

74,570

$64.23

$10,536,476

1,379,583

$7.64

Mississippi

$1,033,402

17,412

$59.35

$438,995

60,754

$7.23

New Mexico

$3,576,660

57,931

$61.74

$9,708,422

1,604,130

$6.05

North Dakota

$2,264,369

39,943

$56.69

$406,093

55,197

$7.36

Oklahoma

$3,898,683

61,776

$63.11

$11,107,949

1,759,007

$6.31

Texas

$23,608,151

385,062

$61.31

$36,744,986

5,556,740

$6.61

Utah

$1,045,407

17,511

$59.70

$2,158,431

344,187

$6.27

Wyoming

$2,710,745

50,906

$53.25

$10,428,475

1,735,664

$6.01

SUBTOTAL

$59,171,275

984,033

$60.13

$93,364,144

14,358,220

$6.50

ALL OTHERS

$5,100,488

86,274

$59.12

$11,468,042

1,735,458

$6.42

TOTAL U.S. *

$64,271,762

1,070,307

$60.05

$104,832,186

16,093,678

$6.51

Total Oil

Weighted

Total

Total Gas

Weighted

Production

Average

Gas

Production

Average

BBL x 1,000

Wellhead

Value

MCF x 1,000

Wellhead

$/BBL

$ x 1,000

$/MCF

  • *

    Excludes Alaska and Federal Offshore production.

State

Total Oil Value $ x 1,000

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