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Cushing is the delivery point for West Texas Intermediate, a blend of US light sweet crude oil streams [1] traded on the New York Mercantile Exchange [19]. Cushing's strategic position as a major hub in oil supply led to WTI's development as a significant physical market price reference or benchmark for over three decades.
Eventually, 23 oil companies and five oil-field supply houses located in the town, [7] and more than 50 refineries once operated in the Cushing area. [10] Pipelines and storage facilities have since made it "the pipeline crossroads of the world". The oil boom did not last long.
The Cushing Oil Field, also known as the Cushing-Drumright Oil Field, is an oil field in northeastern Oklahoma, part of the Mid-Continent oil province.The 10-mile (16 km) by 3-mile (4.8 km) field includes southeastern Payne County, northwestern Creek County, and northeastern Lincoln County.
The company later known as Kerr-McGee was founded in 1929 as Anderson & Kerr Drilling Company by Oklahoma businessman-politician Robert S. Kerr (1896-1963) and oil driller James L. Anderson. When Dean A. McGee (1904-1989), a former chief geologist for Phillips Petroleum , joined the firm in 1946, it changed its name to Kerr-McGee Oil Industries ...
The Cushing MarketLink pipeline phase started at Cushing, Oklahoma, where American-produced oil is added to the pipeline, then runs south 435 miles (700 km) to a delivery point near terminals in Nederland, Texas, to serve refineries in the Port Arthur, Texas, area. Keystone started pumping oil through this section in January 2014.
Steele City, NB & Cushing, OK TransCanada Crosses South Dakota to Steele City, where it branches east through Kansas and Missouri to delivery points at Wood River and Patoka, Illinois, and south to delivery points at Cushing, Oklahoma and Houston and Port Arthur, Texas.
The Seaway is an important crude oil transfer link between two petroleum regions within the United States. [1] Although Seaway shipped oil north (to Cushing) for many years, in June 2012 the flow of the system was reversed to ship oil south (out of Cushing).
The Jackson Barnett No. 11 Oil Well was the most productive oil well in the Cushing Oil Field of northeastern Oklahoma, USA, to the south of Drumright.The well was drilled in 1916 in the Shamrock Dome section of the Cushing field by the Gypsy Oil Company, striking oil on February 17.
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