Oklahoma produced 121,697,740 barrels of crude oil during 1943, a decline of 16,299,527 barrels from 1942. While national production increased 8.3 per cent Oklahoma production decreased 11.8 per cent. Louisiana has replaced Oklahoma as the third ranking state.

Reserves for the state declined also. New discoveries and extensions added about 62 3/4 million barrels to proved reserves, but this is 59 million barrels short of the annual production of 121½ million barrels. Oklahoma's proved reserves are estimated to be 908,618,000 barrels, by the A.P.I. committee on reserves.

There were 1,187 wells drilled during 1943,336 of which were wildcat or exploratory wells. These resulted in the discovery of 34 new oil pools, 10 new gas pools, and 38 extensions and new producing formations. Most of the new discoveries are small, and will have little effect on future production or reserves. The West Edmond pool, producing from the Hunton limestone, is the most important discovery of the year. The trend toward deeper drilling is reflected in the increase from 9 to 15 in the number of wells in Oklahoma which have reached or exceeded 10,000 feet in depth.

Geophysical activity decreased sharply, both in the number of crew months of work, and the types of work. Seismograph and gravimeter are the only types reported. Core drill and stratigraphic holes were reduced in number.

The most important event of the year was the discovery of oil on the west flank of the "granite ridge" in central Oklahoma, which has opened the entire west flank of this ridge and the Anadarko basin to additional prospecting.