SCOOP/STACK News Pulse October 2021

Posted: November 24, 2021

The SCOOP/STACK Basin | October 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- 44 (+4)
Total Rigs in United States- 550 (+22)
Total U.S. Rigs 83% YTD

State Permitting Data
Permits Approved – 68


Basin Highlights

United Energy Announces Update to Major Acquisition

United Energy has signed a deal to purchase the remaining 51 percent of the Cherokee Basin holdings in Oklahoma’s Nowata, Washington, Rogers, and Tulsa counties, as well as Montgomery County in Kansas. United Energy is confident that it will meet its production target of 2,500 MCFD by Q4 thanks to the reactivation of multiple compressor sites and leases from its existing assets.

Continental Propels Oklahoma Natural Gas Output Above Quarterly Forecast

Continental Resources Inc. reported better-than-expected natural gas production in the third quarter of 2021 from its home base of Oklahoma. Despite the increased price environment, the Oklahoma City-based independent intends to keep its focus on natural gas projects in the Sooner State. “We have elected to continue focusing on natural gas developments in Oklahoma based on favorable market conditions,” CEO Bill Berry said. “This resulted in an approximately 80 MMcf/d increase in natural gas and 4 million b/d reduction in oil to third quarter 2021 production results in Oklahoma versus prior projections.”

A Berkshire Pipeline Caused a Large Methane Spew in OK

Last week, in Oklahoma, a pipeline operator controlled by Warren Buffett’s Berkshire Hathaway Energy released a massive plume of greenhouse gas with the same heat-trapping ability as thousands of cars’ annual emissions. Northern Natural Gas estimates that it spilled 21.8 million cubic feet of natural gas over the course of three hours while repairing a breach in its nationwide pipeline. The discharge was one of the worst in the country this year, with the same short-term climate-warming impact as more than 7,700 U.S. vehicles’ annual emissions.


Most Permits By Operator in OK

RankCompanyPermits
Approved
1Camino10
2Citizen Energy5
3Devon4
389 Energy4
5Ovintiv 3
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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