SCOOP/STACK News Pulse June 2021

Posted: July 15, 2021

The SCOOP/STACK Basin | June 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 basin’s providing a bulk of the production. Some of the top formations are the Woodford Shale and Hunton Carbonate.


State Drilling Statistics (End of 7/9)
Total Rigs in Oklahoma- 27
Total Rigs in United States- 479
Total U.S. Rigs up 86% YTD

State Permitting Data (End of June)
Permits Approved – 61

Top Oklahoma Producer
Top Gas Producer- Merit Energy


Basin Highlights

Devon Energy Introduces Environmental Goals

Devon Energy has set new environmental performance goals that include lowering its carbon intensity, reducing freshwater consumption, and interacting constructively with its value chain. The corporation said it will rely on new technology to boost efficiencies across the board, which it claims will be critical to meeting its goal of achieving net zero greenhouse-gas emissions for Scopes 1 and 2 by 2050. Devon’s emission-reduction strategy will include expanding its leak detection and repair program, implementing advanced leak detection technologies, electrifying facilities to reduce the use of natural gas and diesel consumed onsite, including switching from gas-driven to air-driven pneumatic controllers; and reducing the volume of natural gas flared.

Article Link

Oklahoma Economy “Rapidly Emerging”

State Treasurer Randy McDaniel released gross revenues for the month of May 2021, revealing that total collections in May totaled $1.24 billion. McDaniel said, “A key industry in our state is the oil and gas industry and it’s great to see that we’ve more than doubled the receipts that we received a year ago at this time. A 128% increase is a very substantial binding measurement and we’re looking forward to a prosperous future.” Even unemployment rates have improved from 13% a year ago to 4.3% today. If commodity prices continue to increase, Oklahoma’s situation is only projected to get better.

Article Link

Oklahoma Company Saves Lives in India

Parts for oxygen compressors are being manufactured by an oil and gas equipment company for shipment to India. According to Dustin Anderson, Vice President of Sales and Marketing at Kimray Inc., the company received an urgent order for 100 valves from India. The company is known for making parts for oil and gas units, but they have never made parts for oxygen compressors before. “We had people from supply chain get in their trucks, on their own, and drive to Kansas to pick up parts from the manufacturer, we had vendors start to ship things at their own cost and drive them to us. We really saw people jump through hoops,” said Anderson. “When you have an opportunity like this to really step up and meet a need that is bigger than what we normally do and it’s impacting lives, then it’s huge. It really is fulfilling,” he said.

Article Link


Most Permits By Operator in OK (June)

RankCompanyPermits
Approved
1Continental10
2Citizen9
3Fulcrum6
3Marathon5
5Ovintiv3
Hyperlinks to available Q1 2021 Reports

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

RankCompanyProduction by BOE (mbbls)
1Merit Energy855,862
2Continental Resources495,705
3XTO459,336
3COG416,974
5Devon381,604
Hyperlinks to available Q1 2021 Reports

Rig Count


Oklahoma Oil Production


Oklahoma Gas Production


Rare Petro Podcast

Click above to subscribe to the RARE
PETRO Podcast Network or visit
www.rarepetro.com/newspulse


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
RARE Petro Analytics

Related Tags: News Pulse | Oklahoma | Scoop Stack

Categories

Send Us a Message

Rare Petro Logo

1224 Washington Ave,
Suite 10
Golden, CO 80401

(720) 772-7371

contactus@rarepetro.com

Rare Petro Logo

Subscribe!

Oil & Gas News Pulse

Newsletter

You have Successfully Subscribed!