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IOGsi RED TOP NEWS:
WEEK #16, APRIL 18, 2019
IOGsi Weekly Oil & Gas Highlights - There were 21 new
Kansas drilling permits this past week. The year-to-date total
is 262 permits, compared to 457 a year ago (- 43%).----------
Kansas crude prices dropped by 75¢ / bbl from a week ago
with postings for Kansas Common closing at $54.00/ bbl, Southcentral
Kansas crude $55.75 / bbl and Eastern Kansas crude $51.25 /
bbl. ---------- The total number of active drilling rigs in
Kansas (either moving to or on drill sites) was unchanged from
a week ago at 28. A month ago there were 24 rigs (+17%), however,
drilling activity continues to lag behind same time last year
when 38 rigs were active (- 26%). Rig activity in the Western
Kansas region totaled 22 with 17 currently on drill sites and
5 other rigs moving to new drill sites.
In other news, the Kansas Geological Survey (KGS), Lawrence,
KS. reports that oil and gas production in Kansas, compiled
through December 2018, is down compared to the same period in
2017. There was 2,754,127 bbls of oil produced in December 2018,
compared to 2,850,763 bbls oil in 2017 (-3%). Natural gas Production
in the State totaled 16.016 bcf in December 2018, compared to
17.812 bcf in 2017 (- 10%).