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IOGsi WEEKLY HIGHLIGHTS: July 29, 2021

A total of three new oil and gas drilling permits were 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 559, compared with only 249 locations during this same period a year ago (+124%).

Coffeyville Resources (CVR) reported Kansas crude prices were up significantly by $1.50 / bbl from a week ago (+2.4%). Posted price on July 29th was Kansas Common crude $63.75 / bbl, Southcentral Kansas crude $65.50 / bbl and Eastern Kansas crude $61.00 / bbl.

Spot market crude oil (Nymex) was up by $1.78 / bbl from last week to $73.45 / bbl as reported for West Texas Intermediate (WTI) crude (+2.5%). Spot Market natural gas price rose by 5¢ / MMbtu to $4.05 / MMbtu (+1.3%). Henry Hub pricing point for natural gas futures contracts as traded on the New York Mercantile Exchange (NYMEX), and trades on Intercontinental Exchange (ICE), was up by 84¢ / MMBtu to $4.09 / MMBtu (+9.1%).

The total number of active drilling rigs in Kansas, either moving to or currently on drill sites, was up by two rigs this week to 32 (+6.7%). A month ago, 30 drilling rigs were reported active (+6.7%). This same time a year ago only 7 rotary rigs were active in the State (+357%). Drilling activity in the State, based on the number of wells spudded, shows that 147 more wells have been drilled in the first 30 weeks of this year, compared with the same time a year ago (+47.0%). This year a total of 460 wells have been drilled in Kansas. The number of operators searching for oil and gas in Kansas this year totals 156, compared with 106 a year ago (+47.2%). Wildcat drilling activity accounts for about 12% of the total number of wells drilled. Sixty-seven wildcat wells have been permitted this year, up 55.8% from a year ago.

The total number of active drilling rigs in Kansas, either moving to or currently on drill sites, was up by two rigs this week to 32 (+6.7%). A month ago, 30 drilling rigs were reported active (+6.7%). This same time a year ago only 7 rotary rigs were active in the State (+357%). Drilling activity in the State, based on the number of wells spudded, shows that 147 more wells have been drilled in the first 30 weeks of this year, compared with the same time a year ago (+47.0%). This year a total of 460 wells have been drilled in Kansas. The number of operators searching for oil and gas in Kansas this year totals 156, compared with 106 a year ago (+47.2%). Wildcat drilling activity accounts for about 12% of the total number of wells drilled. Sixty-seven wildcat wells have been permitted this year, up 55.8% from a year ago.

Total footage drilled (TFD) statewide this year is estimated to be 1,381,928 ft, compared with 1,095596 ft a year ago (+26.1%). Of the TFD, an estimated 1,171,213 ft of hole has been drilled in the Western Ranges of the State, compared with 956,621 ft over the same period in 2020 (+ 21.3%). In the Eastern Ranges of the State, approximately 210,715 ft of hole has been drilled this year, compared with 129,975 ft a year ago (+62.1%).

For more news, see “WEEKLY NEWS” and “NEW DISCOVERIES” under the Red Top News banner. The 27th Edition of the Independent Oil & Gas Directory of Kansas for 2021-22, or more commonly referred to as the “Red Book”, is now available. Place your order below at bottom of this Home Page, or send check to: Red Book, c/o John H. Morrison, III, 3909 N. Sweet Bay St, Wichita, KS. 67226-3501. Also, major credit cards like Visa, Discover, Master Card and American Express are accepted by phone, (316) 263-8281. Price is $85 per book (free shipping).