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IOGsi WEEKLY HIGHLIGHTS: September 16, 2021
- A total of 37 new oil and gas drilling permits were issued in Kansas this past week by the Kansas Corporation Commission (KCC). This brings the year-to-date total of new drill locations issued to 732, compared with only 304locations during this same period a year ago (+141%).
- Coffeyville Resources (CVR) reported Kansas crude prices increased by $4.25 / bbl from a week ago (+7.3%). Posted price on September 16th was Kansas Common crude $62.75 / bbl, Southcentral Kansas crude $64.50 / bbl and Eastern Kansas crude $60.00 / bbl.
- Spot market crude oil (Nymex) was by $4.68 / bbl from last week to $72.62 / bbl for West Texas Intermediate (WTI) crude (+6.9%). Spot Market natural gas price rose by 30¢ / MMbtu to $5.30 / MMbtu (+6.0%). Henry Hub pricing point for natural gas futures contracts as traded on the New York Mercantile Exchange (NYMEX), and trades on Intercontinental Exchange (ICE), increased by 50¢ / MMBtu for the week to $5.21 / MMBtu (+10.6%).
- The total number of active drilling rigs in Kansas, either scheduled, moving to, or currently on drill sites, was up by three this week to 37 (+8.8%). A month ago, 32 drilling rigs were reported active (+15.6%). This same time a year ago only 10 rotary rigs were active in the State (+270%). Drilling activity in the Kansas, based on the number of wells spudded, shows that 265 more wells have been drilled in the first 37 weeks of this year (653 wells), compared with the same time a year ago (+68.3%). The number of operators searching for oil and gas in Kansas this year totals 185, compared with 130 a year ago (+42.3%). Wildcat activity accounts for about 13.3% of the total number of wells drilled. There have been 87wildcat wells drilled this year, up 74.0% from a year ago.
- Total footage drilled (TFD) statewide this year is estimated to be 1,958,595 ft, compared with 1,311,806 ft a year ago (+49.3%). Of the TFD, an estimated 1,649,440 ft of hole has been drilled in the Western Ranges of the State, compared with 1,134,896 ft over the same period in 2020 (+45.3%). An estimated 309,155 ft of hole has been drilled In the Eastern Ranges of the State this year, compared with 176,910 ft a year ago (+74.8%).
For more news, see “WEEKLY NEWS” and “NEW DISCOVERIES” under the Red Top News banner. ---------- Three new oil fields have been recognized and named in Kansas ---------- The 2021 Hall of Fame Induction Dinner and Ceremony will be held in Great Bend, KS on October 23rd. ---------- The Kansas Geological Society will hold its Annual Shooting Tournament on October 1st, and Annual Golf Tournament on October 11th, in Wichita, KS.---------- Evenson Auctioneers has scheduled an oil and gas production auction on October 21st in Wichita, KS.