Oil and natural gas permitting climbed in September from August by 26% and rose nearly 60% from a year ago, ending the third quarter on a positive note, according to Evercore ISI.


Analysts said there were 809 more requests to drill in September month/month (m/m). The Permian Basin led the way, rebounding by 47% from August, with 538 more requests.

“September’s permit count increased to 3,915, up 26% from August’s total of 3,106,” Evercore analysts noted. “This represents a 60% increase from September 2021’s numbers, a 223% jump from 2020’s and a 11% increase from 2019’s levels.”

Evercore compiles the monthly report using state and federal data. Permits are pulled for onshore drilling often only a few weeks before rigs are raised, while offshore rigs may not...