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IOGsi RED TOP NEWS:
WEEK #7, February 13, 2020
IOGsi Week #7, February 13, 2020 Highlights - There were 8
new Kansas drilling permits filed this past week with the Kansas
Corporation Commission. Year to date total is 85, or 15 fewer
new location filings in the first 7 weeks compared to last year
(- 15%)--------------- Kansas Common crude prices pushed up
slightly by 50¢ / bbl to $41.50 / bbl (+ 1%). Southcentral
Kansas crude price settled at $43.25 / bbl and Eastern Kansas
crude at $38.75 / bbl. --------------- The total number of active
drilling rigs in Kansas (either moving to or on drill sites)
dropped to 20 active rigs, compared to 21 a week ago (- 5%).
A month ago, there were 22 active rigs (- 9%). This same time
a year ago 33 rotary rigs were active in the State (- 43%).
--------------- The Western Ranges of the State accounted for
70% of the total drilling activity this past week.
In other news, the U.S. Energy Information Administration
(EIA), Washington, D.C., expects the share of U.S. total utility-scale
electricity generation from natural gas-fired power plants will
remain relatively steady, it was 37% in 2019, and we forecast
it will be 38% in 2020 and 37% in 2021. Electricity generation
from renewable energy sources rises from a share of 17% last
year to 19% in 2020 and 22% in 2021. The increase in the renewables
share is the result of expected additions to wind and solar
generating capacity. Coal’s forecast share of electricity
generation falls from 24% in 2019 to 21% in both 2020 and 2021.
The nuclear share of generation, which averaged slightly more
than 20% in 2019 will be slightly less than 20% by 2021, consistent
with upcoming reactor retirements.