Although the South-Central Oklahoma Oil Province (SCOOP) region will see setbacks, Wood Mackenzie analysts "expect it to bounce back quickly in 2016," according to its latest key play analysis.
Even in the current price environment, the best producing parts of the South-Central Oklahoma Oil Province (SCOOP) are on par with the Eagle Ford and Bakken according to Wood Mackenzie’s latest key play analysis.
"The region will see drawbacks, rig counts are down in the near-term but production won’t fall off by much and we expect it to bounce back quickly in 2016," said Brandon Mikael, Analyst US Lower 48 Upstream. "It's still one of the most exciting growth areas in the Lower 48 because of the stacked pay potential."
Wood Mackenzie's analysis breaks the SCOOP, STACK, and Cana Woodford plays down into nine sub-play areas that span the Anadarko and Ardmore Basins of the Mid-Continent.
"The area has some of the largest producing wells in the Lower 48, bigger than the Permian and Bakken and comparable to the best parts of the Eagle Ford," explained Mikael.
Currently, oil breakevens are lowest in the SCOOP Core where Springer and Woodford wells breakeven at WTI prices of $41/bbl and $47/bbl at our long-term Henry Hub price assumption of $4.12/mcf.
The key findings of Wood Mackenzie’s granular analysis of nine sub-play areas of the SCOOP are as follows:
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