SCOOP/STACK News Pulse May 2022

Posted: June 30, 2022

The SCOOP/STACK Basin | May 2022

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- 58 (+7)
Total Rigs in United States- 753 (+25)
Total U.S. Rigs 60% YTD

State Permitting Data
Permits Approved – 115


Basin Highlights

Oklahoma Taking a Page out of Texas’s Book

Oklahoma Legislature is introducing the “Energy Discrimination Act of 2022” which would prevent the state from issuing contracts to corporations that do not do business with fossil fuel companies, much like the policies Texas recently implemented. According to the bill’s text, “State government entities with holdings in companies on the list shall notify the Treasurer and warn such companies that it may be subject to divestment. The company has 90 days to cease its boycotting activities to avoid divestment.” The bill is now back in the house for consideration of state Senate amendments.

US Fish and Wildlife Service to Address Orphaned Wells

The US Fish and Wildlife Service is donating $13 million dollars to the Bipartisan Infrastructure Law (BIL) in order to fund work for plugging 175 orphaned wells. The wells are strewn across 6 national wildlife refuges between Louisiana and Oklahoma. In addition to properly plugging and abandoning the wells, the Fish and Wildlife Service will be putting lots of its effort towards reclamation to ensure the sites are fully restored and habitable for local wildlife. This operation will also have the added benefit of strengthening both states’ relationships with the service and creating good-paying jobs for a period of time.

Oklahoma Creates Pro-Hydrogen Policy

Nine new laws have been passed by both the Oklahoma House and Senate to support establishing the legal infrastructure for hydrogen systems. Republican Kim David says, “We’re very interested in Oklahoma opening up commercial trucking for hydrogen, especially with the price of diesel fuel now.” Interstate 40 cuts right through the state making Oklahoma a great candidate for supplying hydrogen fuel for freight transportation. Several hydrogen companies have already expressed interest in operating in Oklahoma, so this handful of bills could be the start of a more diverse energy system for Oklahoma.


Most Permits By Operator in OK

RankCompanyPermits
Approved
1Citation Oil & Gas13
2Citizen Energy10
3Ovintiv 8
4E2 Operating5
4Mewbourne Oil5
Hyperlinks to available Q3 2021 Reports

Rig Count


Oklahoma Oil Production


Oklahoma Gas 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
RARE Petro Analytics

Related Tags: News Pulse | Oklahoma | Scoop Stack

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