By JOHN P. TRETBAR
Kansas crude prices rose and fell last week, winding up a dollar-per-barrel lower than a week ago but nearly five dollars higher than at the first of the month. Kansas Common crude at CHS in McPherson dropped a $1.75 on Friday and will start the week at $61 per barrel. That's up from $55.75 a barrel Dec. 1, and $23 per barrel higher than a year ago.
The Rig Count in Kansas is up slightly from last week. Independent Oil & Gas Service reports 17 active drilling rigs in eastern Kansas, up two for the week, and 27 west of Wichita, which is down one.
At 579, the Rotary Rig Count from Baker Hughes was up four oil rigs and down one seeking natural gas. The count in Texas was up three, Oklahoma was up two, and New Mexico was down one.
Kansas regulators approved 31 new drilling permits for the week ending December 16. That's 1,146 new drilling locations across the state so far this year. There were 19 new permits east of Wichita and 12 in Western Kansas.
Kansas operators completed 34 wells across Kansas last week, 899 so far this year. Independent Oil & Gas Service reports 15 newly-completed wells east of Wichita and 19 in Western Kansas, including one in Ellis County and one in Stafford County
The number of wells spudded is up 89 percent from a year ago. The number of active operators searching for oil and gas in Kansas this year now totals 237, compared with 168 a year ago, an increase of just over 41 percent.
The Energy Information Administration says U.S. commercial crude inventories dropped by 4.6 million barrels from the previous week. At 428.3 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year.
Total motor gasoline inventories decreased by 700,000 barrels last week and are about 6% below the five year average for this time of year.
U.S. operators pumped over 11.7 million barrels per day of crude oil last week, up nearly 100,000 barrels per day over the previous week.
U.S. crude oil imports averaged 6.5 million barrels per day last week, down by 28,000 barrels per day from the previous week. Imports over the last four weeks are 15% higher than the same four weeks a year ago. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 15.4% more than the same four-week period last year.
Oil-by-rail traffic is up for the week but down from a year ago. The Association of American Railroads reports 11,086 tanker cars hauling petroleum or petroleum products across the U.S. during the week through December 11th. That's up 372 carloads from the week before, but down more than three percent from a year ago. AAR says Canadian traffic was up for the week by 644 carloads, but down 1.6% from last year at this time.
Crude production in North Dakota rose by about a million barrels in October compared to the month before. The number-three producing state reached 34.4 million barrels, or 1.11 million barrels per day. That's down about 100,000 barrels per day from a year earlier. North Dakota keeps improving on what were once controversial levels of natural gas flaring at oil wells. The Department of Mineral Resources reports operators in October captured 94% of that gas, flaring only 5.7%.
Most of the nation's coal-fired power plants were built in the 1970s and 1980s, and the government says operators are planning on retiring many of them, even though there is no requirement to do so. The Owners and operators tell the Energy Information Administration about 28% of the coal-fired capacity will go offline within the next 15 years, creating a possible market opening for oil and natural gas as well as renewable energy sources. An EIA report suggests rising costs or diminishing reliability are the chief drivers of those shutdowns, especially when lower-cost or more efficient technologies enter the market, when fuel prices change, or when new regulations require additional investment. The average operating coal-fired generating unit in the United States is 45 years old.
The Biden Administration last week said a crude-oil export ban is not under consideration. Bloomberg reports Energy Secretary Jennifer Granholm took a conciliatory tone with members of the oil industry in an online meeting of an outside advisory group . Biden Administration energy policies are coming under fire, including its temporary halt to federal oil leases and the termination of the Keystone Pipeline permit. Secretary Granholm said the administration is not considering reinstating a ban on the export of crude oil. Bloomberg called that the administration’s most definitive statement yet regarding any plans for an export ban. The White house had previously considered such a move as it tried to address spiking gasoline prices.
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News From the Oil Patch: Administration not considering export ban - Hays Post
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