At a rapidly increasing cost. The easy stuff goes first.
Not by much. I'm also from Oklahoma and I have 4 oil producing properties. I've seen the geological reports of existing oil. Oklahoma production is starting to rival Texas again for the 1st time in 80 years.
Very common throughout the western half of OK for oil to be found at 9,000 feet which is still being drilled. Then another layer of bigger pools at 14,500 and still another layer of even larger pools at 19,000 feet.
So this sounds a lot more expensive but it is now common to reuse the many old abandoned vertical holes. That gets them down to 9,000 with no vertical drilling required.
New oil wells are almost all horizontal vs the old vertical drilling. After getting to depth they commonly drill sideways even turning corners. They can target identified pools (which is becoming way more accurate) for over a mile out of one surface hole.
Production from these wells is more than 4x as much so one new well replaces at least 4 old ones. So when you hear there aren't as many wells being drilled it is true. When you hear oil producing property is drying up that is also true. It has taken us 120 years to make a big dent at the 9,000 feet and up level. With many times more remaining at deeper levels.
You are being lied to. That is carefully structured false propaganda (lies) being used to scare the public into thinking our oil supplies have dried up. When in fact we have several hundred years supply left. That is all about finding new ways to separate the money from the public.
And knowing what I do makes me doubt all the other radical propaganda that goes along with it.
So anytime you hear we need new investment from the government it is all about lining politicians pockets. If it is a viable investment private companies and individuals will have invested long before the government has a chance. Elon Musk is the perfect example.