Oil and gas permitting slowed in October
Wednesday, November 23, 2022
Oil and natural gas permitting slowed down month-over-month in October; however, the monthly permit count was ahead of 2021 and when compared with pre-COVID numbers in October 2019, according to Evercore ISI data.
Operators filed 3,308 permits in October, which was a 16% decrease when compared to September. Although permitting decreased month-over-month, it was up 25% over October 2021 and 6% over October 2019.
The Permian Basin saw 486 fewer permits in October than in September. The Marcellus Shale and Eagle Ford also saw fewer permits last month than in September, seeing decreases of 149 and 87, respectively.
Learn more: Natural Gas Intelligence > Oil, natural gas permitting tick up in Rockies as Permian, Marcellus Dip
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