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IOGsi RED TOP NEWS:
WEEK #3, January 21, 2021
There were 12 new oil and gas Drilling Permits 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 30, compared to 52 locations during this same period a year ago (-42%).
Coffeyville Resources reported Kansas crude prices rose by $2.50 / bbl from a week ago (+ 6%). Kansas Common price posted on January 21, 2021 was Kansas Common crude $43.50 / bbl, Southcentral Kansas crude $45.25/ bbl and Eastern Kansas crude $40.75 / bbl.
The total number of active drilling rigs in Kansas (moving to or currently on drill sites) dropped by two to 11 this week (-15%). A month ago, there were 19 active rigs (- 42%). This same time a year ago, 34 rotary rigs were active in the State (- 68%).
Statewide this year, 16 wells have been spudded compared to 61 this same time a year ago (-74%). Total footage drilled (TFD) thus far is 27,830 ft. TFD for the same period last year was 203,820 ft (- 86%). Average well total depth in 2021 is 1,739 ft compared to 3,341 ft in January last year.
Of the TFD this year, 15,124 ft has been drilled in the Western ranges of the State compared to 177,350 ft in January 2020 (- 91%). In the Eastern ranges, a total of 12,706 ft has been drilled compared to 26,470 ft a year ago (-52%).
There are 14 active well operators who have drilled wells in the State so far this year compared to 38 a year ago (- 63%). Overall drilling activity in Kansas this year is down about 51% from 2020.