SCOOP/STACK News Pulse January 2023

Posted: February 22, 2023

The SCOOP/STACK Basin | January 2023

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 basins providing a bulk of the production. Some of the top formations are the Woodford Shale and Hunton Carbonate.

State Drilling Statistics
Total Rigs in Oklahoma- 64 (-)
Total Rigs in the United States- 760 (-11)
Total U.S. Rigs 18% YTD

State Permitting Data
Permits Approved – 75

Basin Highlights

Are Oklahoma’s Utilities Ready for the Next Major Winter Storm?

Nearly two years have passed since a severe winter storm hurt users of Oklahoma’s power and natural gas networks. Utilities have modified how they purchase natural gas and improved equipment in preparation for another “once in a generation” storm. Producers have made arrangements to sustain electricity and have winterized their equipment. Utilities have been requested by regulators to look at the cost-effectiveness of both physical and financial hedging for fuel purchases. The state’s monopoly power market has been deregulated in response to rising fuel prices, and state representatives are now hearing from constituents about rising energy expenses.

Mustang Fuel acquires Great Salt Plains Midstream

Great Salt Plains Midstream Gas, a service provider in central Oklahoma’s STACK and SCOOP fields, has been bought by Mustang Fuel Corp. The bolt-on acquisition comprises 160 miles of natural gas collection lines in the counties of Major, Blaine, Kingfisher, Garfield, and Logan, as well as GSPMG’s Thunderbird and Silver Lake natural gas processing plants in Major County, Oklahoma. The deal will greatly increase Mustang’s midstream processing capacity. With a total plant input capacity of 270 million cubic feet per day, Mustang Gas Products owns and manages seven cryogenic gas plants and more than 4,000 miles of collection lines in Oklahoma.

Oil and gas help Oklahoma’s economic growth to be among the highest in country

Due to the extraction of oil and gas, Oklahoma’s economy expanded at the third-fastest rate in the nation in the third quarter of 2022. $1 billion was supplied by the oil and gas industry, while $444.5 million was provided by the transportation and warehousing industry. The largest percentage increase from the second quarter was 7.3% in the arts, leisure, and recreation sector. Oklahoma’s real GDP in the third quarter was $191.9 billion, up 15% from the same period last year, while personal income increased by 5.9%, the 13th-highest rate in the nation, from the second to the third quarter.

Most Permits By Operator in OK

1Citation Oil & Gas9
2Citizen Energy7
4E2 Operating3
4Mewbourne Oil3
Hyperlinks to available Q3 2021 Reports

Rig Count

Oklahoma Oil Production

Oklahoma Gas Production

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Related Tags: News Pulse | Oklahoma | Scoop Stack

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