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IOGsi RED TOP NEWS:
WEEK #33, AUGUST 15, 2019
IOGsi Week #33, August 15, 2019 Highlights - There were 22
new Kansas drilling permits this past week. The year-to-date
total stands at 608 new locations compared to 1,103 a year ago
(- 45%).---------- Kansas crude prices rebounded by $4.25 /
bbl from a week ago (+ 10%). Kansas Common crude closed the
week at $45.50 / bbl, Southcentral Kansas crude $47.25 / bbl,
and Eastern Kansas crude $42.75/ bbl. ---------- The total number
of active drilling rigs in Kansas (either moving to or on drill
sites) was down up 10% from a week ago. There are currently
34 active rigs compared to 31 a week ago. A month ago there
were 30 active rigs (+13%). This same time a year ago 44 rotary
rigs were active in the State (- 23%). ---------- Seventy-four
(74) percent of the total drilling activity is taking place
in the Western Ranges of the State. Of the 25 Western Range
rigs, 19 are currently making hole on drill sites in Kansas
while another 6 are attempting to move to new drill sites.
In other news, Wichita (KS)-based VAL Energy, Inc. has discovered
Marmaton (Myrick Station) and Cherokee (Johnson Zone) oil deposits
at a wildcat site located in the NW/4 of section 10- T8s- R35W,
in Thomas County. The new find, #1-10 Flying S, establishes
the new Levant East Field which lies about one mile east of
the Levant Field. VAL also opened the Levant Field in January,
2017 with the completion of their #1-4 Kough - Mattson Unit
in section 4 for 40 BOPD with pay from the Lansing - Kansas
City, Pleasanton and Marmaton formations. Completion details
on the Flying S discovery remains confidential. WW Drilling
tools drilled the well to a total depth of 4870 ft. Field area
lies one mile north and eight miles east of the town of Brewster,
Kansas.
