Unconventional oil drilling in North Dakota has accelerated over the past decade and is unlikely to abate soon. Agriculture is large component of North Dakota’s economy. This study compares total acres planted with oil prices and number of wells drilled within crop districts of North Dakota. Using panel data on the total number of wells and acres planted in North Dakota. This study finds that acres planted had a statistically significant negative correlation with number of wells and oil prices.
Plastic manufacturers have a choice of purchasing virgin or secondary material for production. Virgin material in plastics production is oil, and secondary material is recycled plastic. Both can be used to make resin used in plastic production. This substitute relationship means that the material plastic recycling industry is likely to be impacted by changes to oil prices. If plastic recycling limits the negative externalities caused by virgin resource consumption and provides a viable substitute in the form of secondary material, then understanding the relationship between the two could be key to increasing the recycling rate and usage of secondary material in the future. A finite distributed and autoregressive distributed lag model are used to analyze the constant elasticity relationship between the price of oil and the producer price index of material plastic recyclers, using data from 1996-2016. It is expected that a positive impact between oil price in a previous period and the PPI of material plastic recyclers in the current period will be found.
Hydraulic fracturing is a stimulation technique that allows for the commercial exploitation of oil and gas from reservoirs that would be otherwise uneconomical. Designing the fracture stimulation is a complicated process with many considerations, and better designs will ultimately improve production performance. Using fracture stimulation data and oil and gas production data for 33 wells in the Denver Basin, OLS regressions help determine which fracture stimulation design variables create the largest increases in post-fracture oil and gas production. This study finds that post-fracture cumulative production, particularly gas, is affected by the completion type—whether a new or existing geological formation in the well is fractured; the fracture type—the specific fracture treatment being used, such as a hybrid frac or water frac; and the average injection rate of the fracture treatment. These results help elucidate which treatment variables have the largest effect on production performance.