How should my database be structured?

[SurreyStudent]

Hello,

I want to analyse the affects of certain oil wells' production levels on certain state employment levels over time. I have tried two different ways of sorting the data.

The first has the monthly data going down with the states and well names listed at the top.

The second I tried to display as panel data but it ends up having empty cells which I think ruins the results.

Is it even possible to have the state names and well names. Would I have to just use the state employment levels and the state production levels. I want the data to be panel data so it can use fixed effects models.

Thanks for the help in advance, the excel file should be attached.