Oil and gas permitting expected to collapse in lower 48 this month
Wednesday, April 22, 2020
Despite seeing a 62% drop year-over-year in the first quarter of 2020, permitting for oil and natural gas drilling in the lower 48 is expected to continue to drop in April, according to Evercore ISI analysts, as reported by Natural Gas Intelligence.
The projected drop in permitting activity follows a forecast by the International Energy Agency that global demand will drop by a staggering 9.3 million barrels per day as demand has been crippled by COVID-19.
For the week ended April 10, the Permian Basin and Eagle Ford saw the sharpest declines in oil drilling permits, dropping 26% and 23%, respectively. Over that same time period, the Marcellus Shale saw the largest drop in natural gas drilling permits, declining 61%.
Learn more: Natural Gas Intelligence > Lower 48 oil, gas permitting expected to ‘collapse in April’ amid pandemic
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.