SCOOP-STACK gas production at 2-year high as crude prices lift drilling margins

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Surging oil prices fueled by Russia’s ongoing war in Ukraine have boosted drilling margins in Oklahoma’s SCOOP-STACK basin where rising crude output now appears to be lifting associated gas production. Over the past five weeks, US crude prices have zoomed past $100/b following the global market higher as supply concerns in Western Europe mount. At the US benchmark WTI location,…