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IOGsi RED TOP NEWS:
WEEK #3, January 16, 2020
IOGsi Week #3, January 16, 2020 Highlights - There were 38
new Kansas drilling permits filed this past week to the Kansas
Corporation Commission. This is 2 less new locations compared
to 40 a year ago (- 5%).--------------- Kansas crude prices
dropped by $1.75 / bbl from a week ago to $48.00 / bbl (- 3%).
Kansas Southcentral Kansas crude settled at $49.75 / bbl and
Eastern Kansas crude $45.25/ bbl. -------------- The total number
of active drilling rigs in Kansas (either moving to or on drill
sites) was gained by 1% from a week ago. There are currently
23 active rigs compared to 22 a week ago. A month ago, there
were 28 active rigs (- 18%). This same time a year ago 33 rotary
rigs were active in the State (- 30%). --------------- The Western
Ranges of the State account for 65% of the total drilling activity
this past week.
In other news, Cholla Production LLC, of Littleton, Co., has
successfully completed its # 1 Zimmerman to establish a new
unnamed oil field in Rush County. The wildcat producer discovered
new reserves at undisclosed depth in the Lansing – Kansas
City (LKC) formation at site located in the NW/4 of section
3- T16s- R20W. STP Drilling tools were used to drill the well
to a total depth of 3900 ft. The oil deposits were found on
separated feature over one-half mile west of the active District
30 (1972) oil field, where the LKC zones are also productive.
Field area lies about seven miles north and two miles east of
the town of McCracken, KS. --------------- Merit Energy Company
LLC, of Dallas, TX., has discovered new oil reserves in the
Marmaton and Morrow Sand formations at their #1-26 Molz, located
in the NW/4 of section 26- T23s- R35W, in Kearny County. The
new unnamed pool discovery well was drilled to a total depth
of 5015 ft over one and one-quarter miles west of similar production
in the Redwood field (1987 – Marmaton oil, 1993 - Morrow
oil). Production details remain confidential. The new oil field
lies about three miles north of Deerfield, KS.