The U.S. offshore proved to be a bright spot for oil and natural gas permitting during September, while the Lower 48 reported sharp declines in several major plays, Evercore ISI said Tuesday.
Articles from Permits
Oil and natural gas well permits in Texas have declined through the first seven months of 2019 compared with the same time last year, according to state data.
PennEast Pipeline Co. LLC has refiled for key water quality permits with the New Jersey Department of Environmental Protection (DEP) more than two years after the agency denied the first application.
Permits to drill using hydraulic fracturing (fracking) are not growing at an unprecedented rate in California, contrary to reports last week by state officials in explaining the ouster of the oil and gas supervisor.
A sharp ramp in permit requests for Colorado’s Denver-Julesburg (DJ) Basin/Niobrara formation helped push the June count up to the highest level in three months, but requests for permits in the natural gas-rich Marcellus, Utica and Haynesville shales declined, according to a compilation by Evercore ISI.
The Wyoming Oil and Gas Conservation Commission (WOGCC) has approved a draft rule that would reduce the growing backlog of unconventional drilling permits.
Capital discipline by Lower 48 operators and market volatility appeared to temper oil and gas permitting during April, particularly in Colorado and the Permian Basin, according to a review by Evercore ISI.
The capital discipline instilled by many exploration and production (E&P) companies has put the squeeze on permitting in the Lower 48, with a “more opaque outlook” expected in the near term, according to Evercore ISI.
Reported permitting activity in the gassy Haynesville and Utica shales climbed in February, but Wyoming permitting decelerated significantly, and activity in the Marcellus Shale also declined, according to Evercore ISI.
U.S. producers may be looking to exploit more oil and natural gas targets in Wyoming’s Williston Basin, California and in Texas, according to a tally of January permitting activity by Evercore ISI.