SCOOP/STACK News Pulse – January 2020

The SCOOP/STACK Basin | January 2020

Field Overview

Ranking 6th in oil production and 3rd in natural gas production, the SCOOP/STACK play is one of the largest fields within the continental United States. It is primarily a shale play, with the Anadarko and Ardmore basin’s providing a bulk of the production. Some of the top formations are the Woodford Shale and Hunton Carbonate.


State Drilling Statistics

Active Drilling Rigs in Basin- 25
Total Rigs in Oklahoma- 53
Total Rigs in United States- 790
Total U.S. Rigs down 24% YTD

State Top Producers

Top Gas Producer- Continental
Top Oil Producer- Updated Oil Production Coming Soon!


Financial & Economic Updates

Oklahoma Treasurer: Revenue Collections Beginning to Slow

  • Overall collections to the Oklahoma treasury are beginning to slow, fueled in large part by declining tax collections on oil and natural gas production, Oklahoma Treasurer Randy McDaniel announced on Monday.
  • Gross receipts during 2019 were nearly 6% more than during 2018, but collections began to slump toward the end of the year, McDaniel said in a statement. “Recent economic trends appear to be primarily related to low oil and gas prices,” McDaniel said. “We are seeing both a direct and spillover effect on some tax collections due to suppressed energy prices.”
  • Tax collections on oil and natural gas production have trailed prior-year collections for four consecutive months, while sales tax receipts have contracted for six of the last seven months, the treasurer’s office reported.

Article Link


State Highlights

REMINDER: Elizabeth Warren Transferred Oil And Gas Royalties To Children To Maintain Her Green Energy Cred

  • The Wall Street Journal editorial board used its latest editorial to remind readers that in 2011, Warren’s husband, Bruce Mann, sold his interest in “all of the oil, gas, and other minerals” throughout properties in Latimer and Pittsburg County in their home state of Oklahoma. The person who purchased the deed to was none other than Warren’s son Alexander. The effective transfer date of the royalties was two weeks before Warren announced her candidacy for senate in Massachusetts.
  • ‘We are on the cusp of a climate crisis,’ she told the Senate that March, ‘a point of no return that will threaten our health, our economy and our planet.’ Two months later, deeds dated May 19 say Ms. Warren conveyed to her two children, Alexander and Amelia, her mineral rights for lands in Okfuskee County and Hughes County, amid the Woodford shale field in the state’s southeast,” the Journal reported.

Article Link

Oklahoma Energy Resources Board sponsor workshop for educators over curriculum for oil and gas STEM topics

  • Twelve Muskogee-area teachers are starting the new year with hundreds of dollars of free classroom supplies after attending a teacher-training workshop sponsored by the people of Oklahoma Oil & Natural Gas.
  • The Oklahoma Energy Resources Board (OERB) workshops instruct teachers how to use one of the OERB’s nine energy-related curricula in their classrooms. The curricula provide teachers from kindergarten through 12th grade hands-on lessons to educate their students on STEM concepts through real-world applications in the oil and natural gas industry. The high school curricula also incorporate language arts and social studies.

Article Link


Top Gas Producers

RankCompanyProduction
(MMscf / Month)
1Continental19,313
2Trinity11,097
3Devon6,933
4Gulfport6,494
5BP6,309

Refining


Oklahoma Gas Production


Oklahoma Oil Production


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The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the following sources unless otherwise
noted:

www.eia.gov
www.drillinginfo.com
www.bhge.com
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