U.S. natural gas and oil drilling permit activity ended the year surpassing expectations, climbing 13% in December or up by 389 permits from November, according to Evercore ISI.


The energy analyst team led by James West compiles domestic permitting figures using state and federal data. Lower 48 permits often are issued three to six months before development begins.

“After November’s 7% decline, issued permits rebounded in the last month of the year to 3,452, a 29% increase from December 2021, an 83% increase from December 2020, and a 49% increase from the same month in 2019,” the Evercore analysts said. 

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