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IOGsi RED TOP NEWS:
WEEK #11, MARCH 14, 2019
IOGsi Weekly Oil & Gas Highlights - There were 18 new
Kansas drilling permits this past week. The year-to-date total
is 158 permits, compared to 333 a year ago (-53%).----------
Kansas Common crude price increased by $2 / bbl from a week
ago to close at $48.50 / bbl, Southcentral Kansas crude $50.25
/ bbl and Eastern Kansas crude $45.75 / bbl. ---------- The
number of active drilling rigs in Kansas was down from a week
ago to 24. A month ago there were 32 rigs active in Kansas (-25%)
and 41 rigs a year ago (-42%).
A total of 60 active operators have drilled 141 wells in Kansas
so far this year. There were 253 wells spud during this same
period a year ago (- 44%). Total footage drilled (TFD) in the
State is estimated to be around 467,064 ft compared to 786,229
ft a year ago (- 41%). Of the total number of wells drilled,
26 have been wildcat exploratory wells compared to 43 a year
ago (- 40%). Wildcat wells represent 17-18% of the total number
of wells drilled in the State. An estimated 425,137 TFD has
been accomplished in the Western Ranges compared to 688,644
ft a year ago (- 38%). Eastern Range activity has fallen from
an estimated 97,585 TFD in the first two months in 2018 to 41,927
ft in 2019 (- 57%).