Oklahoma Weekly Permits to Drill: 06/05 thru 06/09
Permit count for the week of 06/05 thru 06/09 took a huge nose dive. According to the data, only 23 permits were approved; the lowest to date for 2017.
5 of the 23 permits were located in Kingfisher County. Oklahoma Energy Acquisitions accounted for 3 of the 5 permits.
Keep an eye on Hughes County over the next few months. Silver Creek Oil & Gas has been aggressively leasing in the area. Hughes County had 3 permits, 2 from Bravo Arkoma and 1 from Calyx Energy.
In the mean time, keep your fingers crossed that oil prices increase. The longer prices hover in the low/mid $40 range, the more likely companies will scale back their future, non-core projects.
Convey Energy Consultants