Nearly 3,000 permits were issued in February to explore for U.S. oil and gas, a slight increase from January but down nearly 9% from a year ago, according to state and federal data.
Evercore ISI, which tracks oil and gas permitting data, said 2,929 permits gained approval in February, up by 211 or 8% from January and 51.7% more than in February 2021. However, permitting fell from February 2022 by 8.8%.
“Major losses were reported in the Powder River Basin,” analysts said, down by 68 from January or 26% month/month (m/m). Permitting also declined in smaller plays, off by 18% m/m or by 68.
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Permitting rose, though, in the Marcellus Shale, up...