McKittrick Oil Field the Teapot Dome Scandal of the Warren G. Harding administration; adjacent to the southwest is the Belgian Anticline Oil Field, along Route 58; and to the southeast is the huge Midway-Sunset Oil Field, the third largest oil field in the United States. The total productive area of the field is . The field is about long on the southeast to northwest axis, and about across. The predominant geologic feature, and the one that makes the McKittrick field distinctive, is the presence of a huge block of Monterey shale – more than long, approximately wide, and up to thick – which
World oil market chronology from 2003 use hydraulic fracturing in the United States, combined with the US$12 million upfront well drilling and construction costs, provide incentives to oil producers to continue to flood the already glutted market with under-priced oil in spite of crude oil storage limitations. Many less efficient and less productive older wells were shut down but these shale oil wells continue to increase production while making a profit in a market where crude oil is priced as low as US$50 a barrel. In 16 April the price of WTI hit a high of $56.52 for 2015 following the publication of the monthly review