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IOGsi WEEKLY HIGHLIGHTS: September 9, 2021
- A total of 16 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 693, compared with only 298 locations during this same period a year ago (+133%).
- Coffeyville Resources (CVR) reported Kansas crude prices dropped by 25¢ / bbl from a week ago (+2.6%). Posted price on September 9th was Kansas Common crude $58.50 / bbl, Southcentral Kansas crude $60.25 / bbl and Eastern Kansas crude $55.75 / bbl.
- Spot market crude oil (Nymex) was down by $1.79 / bbl from last week to $67.94 / bbl as reported for West Texas Intermediate (WTI) crude (+3.0%). Spot Market natural gas price rose by 36¢ / MMbtu to $5.00 / MMbtu (+7.8%). Henry Hub pricing point for natural gas futures contracts as traded on the New York Mercantile Exchange (NYMEX), and trades on Intercontinental Exchange (ICE), increased by 38¢ / MMBtu for the week to $4.71 / MMBtu (+8.8%).
- The total number of active drilling rigs in Kansas, either moving to or currently on drill sites, was up by one this week to 34 (+3.0%). A month ago, 32 drilling rigs were reported active (+6.3%). This same time a year ago only 11 rotary rigs were active in the State (+209%). Drilling activity in the Kansas, based on the number of wells spudded, shows that 250 more wells have been drilled in the first 36 weeks of this year at 625, compared with the same time a year ago (+132.6%). The number of operators searching for oil and gas in Kansas this year totals 181, compared with 127 a year ago (+42.5%). Wildcat drilling activity now accounts for about 13.2% of the total number of wells permitted. Eighty-three wildcat wells have been permitted this year, up 66.0% from a year ago.
- Total footage drilled (TFD) statewide this year is estimated to be 1,870,069 ft, compared with 1,276,884 ft a year ago (+46.5%). Of the TFD, an estimated 1,577,045 ft of hole has been drilled in the Western Ranges of the State, compared with 1,107788 ft over the same period in 2020 (+42.3%). An estimated 293,024 ft of hole has been drilled In the Eastern Ranges of the State this year, compared with 169,096 ft a year ago (+73.3%).
For more news, see “WEEKLY NEWS” and “NEW DISCOVERIES” under the Red Top News banner. ---------- The Kansas Geological Society will hold its Annual Shooting Tournament and Annual Golf Tournament in Wichita in October. ---------- Mid-Continent Energy Exchange (MCEE) will have a live and on-line oil and gas assets and production auction on October 14, 2021. ---------- Russell Oil, Inc. has established a new Lansing-Kansas City oil field in Logan County. ---------- 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 call John H. Morrison, III, publisher, 316-263-8281. Major credit cards like Visa, Discover, Master Card and American Express are accepted. Price is $85 per book (free shipping).