Drilling in the STACK (Sooner Trend, Anadarko Basin, Canadian, and Kingfisher counties) refers to oil and natural gas exploration and production in a specific geological formation in Oklahoma, United States. Several reasons make the STACK attractive for drilling:
- Resource Potential: The STACK has been recognized as one of the most prolific and economically viable shale plays in the United States. It contains multiple hydrocarbon-bearing formations, including the Meramec and Woodford shale formations, with significant oil and gas reserves.
- Technological Advancements: Advances in drilling and hydraulic fracturing techniques, such as horizontal drilling and multi-stage fracturing, have made extracting oil and gas from previously inaccessible shale formations possible. These technologies have greatly enhanced the economic viability of drilling in the STACK.
- Favorable Geology: The STACK formation consists of thick, organic-rich shale deposits with favorable porosity and permeability characteristics. These properties enable the shale to hold significant quantities of oil and gas and allow for efficient extraction.
- Infrastructure and Market Access: The STACK is well-served by existing infrastructure, including pipelines and processing facilities, which facilitate the transportation and processing of the extracted oil and gas. Its proximity to major refining and distribution centers also provides access to established markets for the produced hydrocarbons.
- Economic Considerations: The STACK offers favorable economics for drilling and production due to its high resource potential, relatively low drilling and completion costs compared to other shale plays, and attractive, well productivity. These factors make it an attractive investment opportunity for oil and gas companies.
It’s important to note that the attractiveness of drilling in the STACK can vary over time due to fluctuations in oil and gas prices, technological advancements, regulatory factors, and market conditions.