Independent Oil and Gas

Independent Oil & Gas Service, Inc. (IOGsi) is a vital source for reliable and up-to-date oil and gas news in Kansas. With a strong 79-year history in the industry, the organization provides timely and accurate well information that enables you to make informed decisions. IOGsi offers daily and weekly drilling reports, along with a 24-hour online service, ensuring you have access to dependable data whenever you need it.

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IOGsi WEEKLY HIGHLIGHTS: August 28, 2024

The Kansas Corporation Commission (KCC) has issued 20 new drilling permits to Kansas operators, bringing the total for this year to 478. While this indicates some ongoing activity in the oil and gas sector, it is essential to note that this figure represents a decline of 186 permits compared to last year, marking a significant 28% drop.
So far this year, 536 wells have been drilled in Kansas for oil, gas, disposal, water supply, or injection. This is down from 869 wells drilled during the same time last year, a decrease of 38.3%. Wildcat exploratory wells now account for 11.9% of all wells drilled in the state this year. There have been 64 wildcat wells drilled, compared to 84 last year, representing a 23.8% drop. Drilling activity in Kansas has decreased by an average of 32% compared to the same period the previous year.
This reduction can have significant implications for local communities, impacting jobs and revenue that many families and businesses rely on. Oil and gas production contribute significantly to the economies of many Kansas counties, particularly in the western and south-central parts of the state. Kansas counties are seeing oil revenues from oil and gas severance taxes drop due to a long-term decline in oil production and recent market volatility. Oil and gas revenues in May decreased by 6.4% compared to the same period last year.
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