Number of permits to drill on a skid in Oklahoma

The last time an oil and gas company obtained a permit to drill in Oklahoma was January 28.

Last Tuesday.  In the week since, no permits have been released or approved by the Oklahoma Corporation Commission.

It is an indication of the slowdown in the oil patch. And there is always the impact of oil prices that dropped below $50 a barrel this week.  The decline in prices could cause more energy companies to take a long hard look at the risk of drilling wells that costs millions. To drill or not to drill will be the question they face.

Completion reports continue to dribble in but in no large numbers.