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IOGsi WEEKLY HIGHLIGHTS: November 25, 2021
- A total of 24 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 1,059, compared with only 424 locations during this same period a year ago (+150.0%).
- Coffeyville Resources (CVR) reported Kansas crude prices was up slightly by 25¢ / bbl from a week ago (+0.4%). Posted price on November 23rd was Kansas Common crude $68.75 / bbl, Southcentral Kansas crude $70.50 / bbl and Eastern Kansas crude $66.00 / bbl.
- Spot market crude oil (Nymex) for West Texas Intermediate (WTI) crude was down by 57¢ / bbl from last week to $78.41 / bbl (-o.72%). Spot Market natural gas price was up by 12¢ / MMbtu to $5.03 / MMbtu (+2.4%). 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 unchanged for the week at $5.11 / MMBtu.
- The total number of active drilling rigs in Kansas, either scheduled, moving to, or currently on drill sites, was unchanged from a week ago at 41. A month ago, 40 drilling rigs were reported active (+2.5%). This same time a year ago 20 rotary rigs were active in the State (+105.0%). Drilling activity in the Kansas, based on the number of wells spudded, shows that 433 more wells have been drilled in the first 47 weeks of this year (946 wells), compared with only 513 wells this same time a year ago (+84.4%).
- Total Footage Drilled (TFD) statewide this year is estimated to be 2,780,362 ft, compared with 1,696,011 ft a year ago (+63.9%). Of the TFD, the Western Ranges of the State recorded an estimated 2,282,250 ft of borehole drilled, compared with 1,440,582 ft over the same period in 2020 (+58.4%). An estimated 498,112 ft of borehole has been drilled in the Eastern Ranges of the State this year, compared with 255,429 ft a year ago (+95.0%).
- The number of active operators searching for oil and gas in Kansas this year now totals 229, compared with 165 a year ago (+38.8%). Wildcat well activity now accounts for about 12.9% of the total number of wells that have been drilled this year, or 122 wildcats, up from 69 a year ago (+76.8%).
For more news, see “WEEKLY NEWS” and “NEW DISCOVERIES” under the Red Top News banner. ---------- Ritchie Exploration, Inc. has new oil discovery over one mile from earlier discovery of the Sutton Township North field in Lane County. ---------- The U.S. Energy Information Administration (EIA) reports U.S. commercial sector total energy consumption equaled 1.5 quadrillion British thermal units, a 6% increase from August 2020. The commercial sector accounted for 18% of total U.S. energy consumption. Natural gas accounted for 10% of U.S. commercial sector total energy consumption, petroleum accounted for 3%, and renewable energy accounted for 2%.