Activity in Oklahoma’s SCOOP/STACK play has been picking up. In 2021, the number of active rigs there improved by about 30 — that’s a bigger gain than any U.S. hydrocarbon production basin except the Permian. On a percentage basis, the 160% year-over-year increase in the SCOOP/STACK rig count was exceeded — and just barely — by only a couple of other rich-gas regions: the Niobrara and Ohio portion of Marcellus/Utica. Is SCOOP/STACK really on the rebound and, if so, why? The answers are tied to commodity prices and the fact that the Oklahoma play offers producers both crude oil and “rich,” NGL-saturated associated gas. In today’s RBN blog, we discuss recent developments in the Sooner State’s premier production area.
Standing Still, Part 2 – While SCOOP/STACK Oil Output Falls, ‘Rich’ Gas Signals a Rebound
