SCOOP/STACK News Pulse July 2021

Posted: August 18, 2021

The SCOOP/STACK Basin | July 2021

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- 31
Total Rigs in United States- 479
Total U.S. Rigs up 86% YTD

State Permitting Data
Permits Approved – 68

Top Oklahoma Producer
Top Gas Producer- Merit Energy

Basin Highlights

New Records for Oklahoma Treasury

Treasury receipts for June and the fiscal year ending June 30 both set new records. The increase is largely due to a federal payment of more than $10 billion to Oklahomans in response to the pandemic, as well as the timing of income tax payment deadlines. Furthermore, collections from oil and gas production taxes have quadrupled since June 2020, when payments fell to a record low due to low oil prices.

Article Link

Oklahoma Seeking opportunities in Hydrogen

Members of Governor Stitt’s cabinet are working hard to form alliances with the Biden administration that will benefit Oklahoma. The congressional delegation of Oklahoma has been outspoken about its opposition to the Biden administration’s energy policy. Nonetheless, the Energy Secretary sees a great opportunity for renewable growth. A task force formed during the last legislative session at the state Capitol to investigate future hydrogen production is set to meet for the first time next week.

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Oklahoma in Talks with Azerbaijan

Gov. Kevin Stitt went on a week-long trip to Baku, Azerbaijan, to “promote and expand Oklahoma’s strategic partnerships with Azerbaijan,” according to his office. The Southern Caucuses nation on the Caspian Sea has an oil-and-gas economy that is fueled by tourism and agribusiness, all of which Oklahoma has long been involved in or is looking to expand in. The Oklahoma National Guard visited Azerbaijan in 2002, kicking off a relationship that will last until 2019 when Oklahoma State University and Azerbaijan State Agricultural University sign a memorandum of understanding to jointly develop academic programs and facilitate student and faculty exchanges.

Article Link

Most Permits By Operator in OK (June)

Hyperlinks to available Q2 2021 Reports

Top Production By BOE OK (as of 5/21)

1Merit Energy
2Continental Resources
Hyperlinks to available Q2 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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