Production in Oklahoma's Scoop Stack shale play is forecasted to hit 342,000 barrels of oil per day and 5.8 billion cubic feet per day this month, according to GlobalData's latest report.
Production in Oklahoma’s Scoop Stack shale play is forecasted to hit 342,000 barrels of oil per day and 5.8 billion cubic feet per day this month, according to GlobalData’s latest report.
The figures mark a 43 percent decline in oil and a 27 percent dip in natural gas from the play’s peak in September 2019, which saw highs of 604,000 barrels of oil per day and 7.9 billion cubic feet of gas per day, GlobalData highlighted. GlobalData outlined that this “sharp decrease” in production is linked to a “drastic” drop in rig count, “with companies reducing capital expenditure, as well as focusing capex in other plays”.