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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 #50, December 12, 2019

IOGsi Week No. 50, December 12, 2019 Highlights - There were 21 new Kansas drilling permits this past week. The year-to-date total stands at 1,049 new locations compared to 1,760 a year ago (- 40%). ---------- Kansas crude prices rose slightly by 25 / bbl from a week ago. Kansas Common crude closed the week at $49.00 / bbl, Southcentral Kansas crude $50.75 / bbl, and Eastern Kansas crude $46.25 / bbl. ---------- The total number of active drilling rigs in Kansas (either moving to or currently on drill sites) decreased by one rig from a week ago to 28 (- 3%). A month ago, there were 28 active rigs (unchanged). This same time a year ago, 43 rotary rigs were active in the State (- 35%). ---------- The Western Ranges of the State account for roughly 82% of all drilling activity this past week.

Geosouthern Operating II LLC, of The Woodlands (TX), has discovered new oil reserves in the Lansing-Kansas City (K and L zones), upper Marmaton, and Pawnee formations at the #1-28 Cress new pool opener in Sherman County, northwest Kansas. The wildcat well was drilled to a rotary total depth of 5,000 ft at site located in approximately SW NW SE in section 28- T7s- R37W, about four miles north and thirteen miles east of Goodland, KS. Discovery well lies nearly two miles northwest of established production in the Gertrude West oil field (Marmaton and Cherokee - Johnson Zone oil), which was recently discovered by Chizum Oil LLC in section 35- T7s- 37W. Geosothern's new oil field ha not been named.

In other news, the U.S. Energy Information Administration (EIA), Washington, D.C., forecasts that EIA forecasts that average annual U.S. dry natural gas production will average 92.1 billion cubic feet per day (Bcf/d) in 2019, up 10% from 2018. EIA expects that natural gas production will grow much less in 2020 because of the lag between changes in price and changes in future drilling activity, with low prices in the third quarter of 2019 reducing natural gas-directed drilling in the first half of 2020. EIA forecasts natural gas production in 2020 will average 94.9 Bcf/d. ---------- Natural gas storage injections in the United States outpaced the previous five-year (2014-18) average during the 2019 injection season because of rising natural gas production, according to EIA. At the beginning of April, when the injection season started, working inventories were 28% lower than the five-year average for the same period. By October 31, U.S. total working gas inventories reached 3,762 billion cubic feet (Bcf), which was 1% higher than the five-year average and 16% higher than a year ago. ---------- The Henry Hub natural gas spot price averaged $2.33 per million British thermal units (MMBtu) in October, down 23 cents/MMBtu from September. The decline largely reflected strong inventory injections. Lower forecast prices in 2020 reflect a decline in U.S. natural gas demand and slowing U.S. natural gas export growth, allowing inventories to remain higher than the five-year average during the year even as natural gas production growth is forecast to slow.


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Common: $49.50 bbl
So. Central: $51.25 bbl
$46.75 bbl

*Price based on CVR Refining Posting for Kansas Crude as of 12/12/19


Panhandle Eastern Pipeline Co.
Dec: $1.96 MMBtu
Nov: $2.03 MMBtu
Oct: $1.61 MMBtu

Colo. Interstate Gas Co.
Dec: $2.29 MMBtu
Nov: $1.94 MMBtu
Oct: $1.79 MMBtu


Oil - Past 2 Years
Gas Price History


Current: 28
Week ago: 29 (-3%)
Month ago: 28 (0%)
Year ago: 43 (-35%)

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