Midland County

The first graph (Price differentials and number of operators) shows the number of operators which fall into each price difference range. In the Midland example, eight operators averaged about 40 cents below the expected price.

Price differentials & number of operators

The second graph (Price differentials and production volume) shows the volume of oil associated with each price difference range. The total annual volume for operators averaging 40 cents below the expected market price in Midland County was about 500,000 barrels in 1994.

Price differentials & production volume

The final graph is a combination of the first two graphs.

Price differentials, number of operators and production volume
 

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