Drilling rigs bring workers, tax windfall to Oklahoma
KINGFISHER, Okla. (AP) — As drilling for oil and natural gas increases, some Oklahoma towns are reaping the economic benefits from temporary workers who need food, plus housing that often comes in the form of recreational vehicles.
In the middle of the STACK oil play, there are three RV parks near Kingfisher. In the heart of the SCOOP play in Chickasha, Glen Snedeker tells The Journal Record that he’s preparing to expand his 80-lot RV park to 96 lots.
The workers eat and shop locally, boosting tax revenue, but Oklahoma City University economics professor Russell Evans advises the towns to spend the windfall on local development that lasts beyond the next slump in oil or gas prices.
Chickasha Economic Development Council director Cody Mosley says the city has completed a $90,000 downtown redevelopment project and there is now $1.2 million to recruit businesses and real estate development.
Houston-based Baker Hughes reports the number of active drilling rigs in Oklahoma has increased from 121 a year ago to 142.
Information from: The Journal Record, http://www.journalrecord.com