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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 WEEKLY HIGHLIGHTS: January 13, 2022

  • A total of 19 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 42, compared with only 18 locations during this same period a year ago (+133.3%). A total of 1,201 oil and gas permits were issued in 2021, compared with only 482 in 2020 (+149.2%).
  • COFFEYVILLE RESOURCES (CVR) reported Kansas Common Crude price rose by $3.25 / bbl from a week ago to $73.00 / bbl as of January 12, 2022 (+4.7%). Oklahoma Sweet Crude rose by $4.25 / bbl to $79.00 / bbl (+6.4%). Other crude postings include Central Kansas $74.75 / bbl (+4.5%) and Eastern Kansas $70.25 / bbl (+4.9%).
  • SPOT MARKET crude oil (Nymex) for West Texas Intermediate (WTI) crude was up slightly by $3.50 / bbl from last week to $82.29 / bbl (+3.5%). Spot Market natural gas price also rose by 53¢ / MMbtu to $4.39 / MMbtu (+11.5%). HENRY HUB pricing point for natural gas futures contracts as traded on the New York Mercantile Exchange (NYMEX), and trades on Intercontinental Exchange (ICE), was up by 43¢ / MMbtu for the week to $4.16 / MMBtu (+11.5%).
  • The total number of active DRILLING RIGS in Kansas, either scheduled, moving to, or currently on drill sites, was up by one rig from a week ago to 43 (+2.4%). A month ago, 44 drilling rigs were active (-2.3%). This same time a year ago 13 rotary rigs were active in the State (+230.8%). DRILLING ACTIVITY in the Kansas, based on the number of wells spudded, shows that three more wells have been drilled in January this year (22 wells), compared with only 19 wells this same time in 2021 (+15.8%).
  • TOTAL FOOTAGE DRILLED (TFD) statewide this year is estimated to be 59,224 ft, compared with 72,445 ft in 2021 (-18.2%). Of the TFD, the Western Ranges of the State has recorded an estimated 49,214 ft of borehole drilled, compared with 56,889 ft in same period in 2021 (-13.5%). An estimated 10,010 ft of borehole has been cut in the Eastern Ranges of the State this year, compared with 15,556 ft in 2021 (-35.7%).
  • The number of ACTIVE OPERATORS who explored for oil and gas in Kansas this year totaled 243, compared with 176 in 2020 (+38.1%). WILDCAT well activity accounted for about 12.9% of the total number of wells that were drilled in 2021 (143 wildcats), up from 75 a year ago (+90.7%).

For more news, see “WEEKLY NEWS” and “NEW DISCOVERIES” under the Red Top News banner.

 



2021 Directory

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CRUDE OIL INDEX


KS Common (CVR): $77.25 bbl

OK Sweet (P66): $83.50 bbl

WTI (NYMEX): $85.43 bbl    

*Posted price as of 1/19/2022  

NATURAL GAS INDEX

Panhandle Eastern Pipeline Co. (MMBtu)
Jan: $5.38 (-0.7%)
Dec: $5.42 (-9.8%) 
Nov: $6.01 (+11.3%)

Southern Star Central Gas Pipeline (MMBtu)
Jan: $5.95 (+6.4%)
Dec: $5.59 (+6.2%)
Nov: $5.96 (+6.8%)

PRICE HISTORY

Oil - Past 2 Years
Gas Price History

kANSAS RIG COUNT

Current: 43
Week ago: 42 (+2.4%) 
Month ago: 44 (-2.3%)
Year ago: 13 (+230.8%)


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