Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com    Bitcoin and Blockchain Stocks


Wells Drilled in STACK to Grow Over 46% from 2016 to 2017

 

June 6, 2017 (Investorideas.com Newswire) The number of oil and gas wells drilled in Oklahoma is forecast to rise 46% in 2017 to over 1,350 wells, up from 935 in 2016. The STACK, a relatively new play, was the most heavily drilled region in Oklahoma in 2016, and this trend will continue through 2018. The STACK (Sooner Trend, Anadarko, Canadian, Kingfisher) lies in central Oklahoma and is named for the basin (Anadarko) and main counties (Canadian and Kingfisher) that are contained in the region. These and other trends are presented in Oklahoma Oil & Gas Drilling Outlook, a new study from The Freedonia Group, a Cleveland-based industry research firm.

The unique growth trends seen in the STACK from 2014 to 2016 are attributable to multiple factors, including:

  • Age of the play: Substantial drilling activity did not begin in the STACK until 2010.
  • Rate of drilling: Even after drilling began in 2010, wells drilled did not reach unsustainable levels. In fact, drilling only fell between 2011 and 2014 as the transition from gas to oil wells occurred.
  • Geology: The STACK has multiple layers of resource-bearing rock, some of which is overpressured and contains low levels of water, allowing drilling to remain economical despite turmoil in benchmark prices.
  • Infrastructure: The STACK is located near the Cushing hub, a major distribution hub for oil and gas in the Midwest.

The number of wells drilled in the STACK is expected to grow over 46% from 2016 to 2017, increasing from 400 to 585 wells. While this will not be the strongest growth rate in Oklahoma among commonly drilled plays, it continues a unique growth trend that is the opposite of drilling activity movements in the rest of the US. Spurred by high IP rates, which result from the high pressure and low water content of the oil deposits in the STACK, the region has consistently grown through the downturn in oil benchmark prices. Additionally, while many plays that experienced growth from 2016 to 2017 are expected to slow dramatically from 2017 to 2018, the STACK is expected to maintain one of the highest growth rates in the nation as wells drilled grows over 14%.


Oklahoma Oil & Gas Drilling Outlook (published 05/2017, 81 pages) is available for $2100 from The Freedonia Group.  For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email pr@freedoniagroup.com.

Related studies include:

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning.  Additional Energy & Petroleum studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Contact:

Corinne Gangloff
Media Relations
The Freedonia Group
Cleveland, OH
+1 440.684.9600
pr@freedoniagroup.com


OilandGasStockNews.com- investing ideas in oil and gas stocks

Like Oil and Gas Stocks? View our Oil and Gas Stocks Directory

Get News Alerts on Energy Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.


Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max



Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner