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Independent Oil & Gas Service, Inc.

Scouting Oilfield Activity in Kansas since 1946

The Independent Oil & Gas Service, Inc. (IOGsi) is a major, proven source of reliable information when it comes to reporting on the latest oil and gas news in Kansas. Your access to timely, reliable, concise information is a key component in your decision making process. Our commitment is to provide you with the most up-to-date industry reports, news and statistics at a reasonable price. Improve your odds of success with “data you can trust”. Register today as a “New User” to start a no obligation 30-day trial.

IOGsi RED TOP NEWS: WEEK #33, August 13, 2020

IOGsi Week #33, August 13, 2020 Highlights - There were 2 new oil and gas Drilling Permits issued in Kansas this past week by the Kansas Corporation Commission. This brings the year-to-date total of new drill locations issued to 257, compared to 608 locations a year ago (- 58%)-------------- COFFEYVILLE RESOURCES reports Kansas crude prices rose by 50˘ / bbl from a week ago (+ 2%). Kansas Common price at the close of the day on August 12th was $33.00 / bbl, Southcentral Kansas crude $34.75 / bbl and Eastern Kansas crude $30.25 / bbl. --------------- The total number of active drilling rigs in Kansas (moving to or currently on drill sites) was unchanged at 10 compared to a week ago. A month ago, there were 8 active rigs (+ 25%). This same time a year ago, 34 rotary rigs were active in the State (- 71%). --------------- Statewide this year, 292 wells have been drilled with footage drilled totaling around 1,020,011 ft. Total footage drilled statewide last year was 2,478,519 ft (- 59%). Average well total depth in 2020 is 3,493 ft compared to 4.076 ft a year ago. Of the total footage drilled, 902,392 ft was drilled in the western ranges (- 108%) and 117,619 ft in the eastern ranges of the State (- 54%).   

In exploration news, independent oil producer Carmen Schmitt Inc., Great Bend (KS), has discovered new Marmaton oil reserves one and one-half miles north of the Schwartz oil field in Thomas County. Discovery was made at the #1-35 Steiger Unit in the N/2 NE/4 of section 35- T8s- R31W. The new unnamed pool opener was placed on pump on June 15, 2020 at site located two and one-half miles south and one mile west of the town of Menlo, Kansas. Other recognized Marmaton production in the county lies 3 miles to the southwest of the Steiger lease in the Ostmeyer Northwest oil field in section 29- T9s- R31W. Completion details currently remain confidential. 

In other news, energy exports from the United States reached an all-time high of 23.6 quadrillion British thermal units (quads) in 2019, marking the first time in 67 years that annual U.S. gross energy exports exceeded U.S. gross energy imports, according to the U.S. Energy Information Administration’s (EIA) Monthly Energy Review. Gross U.S. energy imports were 22.8 quads in 2019, the lowest since 1995. Last year was the first year when the U.S. exported more energy than it imported since 1952, a year when the volume of energy imports and energy exports was much lower than it is today. --------------- U.S. crude oil net imports, by energy content, decreased 31% from 2018 to 2019. This decrease of 4.1 quads (the equivalent of about 1.9 million barrels per day) accounted for most of the change in the net U.S. trade of total energy. In 2019, gross imports of crude oil decreased, and gross exports of crude oil increased. The United States has been a net importer of crude oil in every year since at least 1949 (the earliest in EIA’s energy trade data series). In 2019, Canada was both the largest source of U.S. crude oil imports and the largest destination for U.S. crude oil exports.. ----------------- Gross exports of U.S. natural gas reached a record of 4.7 quads (nearly 12.8 billion cubic feet per day), up 29% from the previous year, continuing a five-year trend of annual increases. Gross U.S. natural gas imports also fell by 5% from the previous year. The United States has been a net exporter of natural gas since 2017. In 2019, Canada was the largest source of U.S. natural gas imports, and Mexico was the largest destination for U.S. natural gas exports.

 



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KANSAS CRUDE


Common: $32.25 bbl
So.Central: $34.00 bbl
Eastern:
$29.50 bbl                  

*Price based on CVR Refining Posting for Kansas Crude as of 08/14/20

NATURAL GAS INDEX

Panhandle Eastern Pipeline Co.
Aug: $1.61 MMBtu
Jul: $1.32 MMBtu
Jun: $1.48 MMBtu

Colo. Interstate Gas Co.
Aug: $1.58 MMBtu
Jul: $1.49 MMBtu
Jun: $1.46 MMBtu

PRICE HISTORY

Oil - Past 2 Years
Gas Price History

kANSAS RIG COUNT

Current: 10
Week ago: 10 (-%) 
Month ago: 8 (+25%)
Year ago: 34 (-71%)


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