The pond is about 7 feet deep and the bubbler is in the deepest part. As for the amount of O2? All I can say is anecdotally the stench from the main body of water is gone.
For the first day I ran it (about a week ago) I had the pressure up too high. Compressor would come on about every 15 minutes and it was creating so much lift that a lot of debris was getting pulled to the surface in the water column created by the "boil". So I dialed it back to where there is a nice, steady, fine bubble stream that "boils" about 12-15" around at the surface.