US oil, gas permitting hit record lows in April, may be recovering in May
Thursday, May 21, 2020
Although oil and natural gas permitting hit record lows in April, permitting may already be recovering, according to Natural Gas Intelligence.
Analysis by Evercore ISI indicated oil permits climbed 19% from the final week of April to 166 during the first week of May. The Permian Basin accounted for the most permits with 100 — up from 35 a week before.
Simultaneously, natural gas permits increased to 39 — a 64% increase week-over-week — led by the Haynesville Shale with 15 permits.
Learn more: Natural Gas Intelligence > U.S. oil, gas permitting at record low in April, but strengthening seen in early May
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