American Oil and Gas Reporter - June 2021 - 21

quarter of 2021.
The first four-well package, which
included an average completed lateral
length of 7,239 feet for the three 1.5mile
wells and 4,983 feet for the one 1.0
mile well, was drilled and completed on
schedule and within budget. The four
wells produced a cumulative 37,550
gross barrels of oil equivalent during
March 2021.
Ring Chairman and Chief Executive
Officer Paul D. McKinney says the
company has been pleased with results
from the program's initial wells. " Our
2021 development program is focused
on our highest risk-adjusted return
opportunities, which is squarely in line
with our stated objective to pursue
operational excellence by steadying
production levels and controlling costs
while pursuing rigorous capital
discipline, " he states. " Combined with
the continued execution of our highlysuccessful
CTR program, high rate of
return workover projects, and other
targeted initiatives, we are well
positioned in 2021 to continue to
generate free cash flow, further pay
down debt and enhance our financial
position for the benefit of our
shareholders. " ❒
Gas Storage Levels
Increase By 415 Bcf
WASHINGTON-Underground
natural gas storage in the United States
stood at 2.313 trillion cubic feet on May
28, 2.6% below the five-year average,
according to the U.S. Energy
Information Administration. That was
up 415 billion cubic feet from the 1.898
Tcf in storage on April 23, which was
2.1% below the five-year average. The
May 28 storage number was 386 Bcf
lower than a year ago, when gas storage
stood at 2.699 Tcf.
Gas storage in the East Region was
413 Bcf on May 28, 7.8% below the
five-year average, and 94 Bcf more than
on April 23, when storage stood at 319
Bcf, 2.1% below the five-year average.
East Region gas storage on May 28 fell
118 Bcf from a year ago, EIA reports.
Gas storage in the Midwest stood at
522 Bcf on May 28, 0.8% below the
five-year average and 95 Bcf more
than the 427 Bcf in storage on April
23, which was 3.6% above the fiveyear
average. May 28 gas storage in
the Midwest was 108 Bcf less than a
year ago.
In the Mountain Region, EIA
continues, gas storage was 151 Bcf on
May 28, 7.9% above the five-year
average and 32 Bcf more than the 119
Bcf stored on April 23, which was 5.3%
above the five year-average. Gas storage
in the Mountain Region was 12 Bcf
more than a year ago.
Gas storage in the Pacific Region was
268 Bcf on May 28, 5.5% above the
five-year average and 51 Bcf more than
the 217 Bcf stored on May 28, which
was 3.3% above the five-year average.
Pacific Region gas storage on May 28
was down 4 Bcf from a year ago.
In the South-Central Region, gas
storage levels on May 28 were 959 Bcf,
4.8% below the five-year average and
143 Bcf more than the 816 Bcf in
storage on April 23, which was 7.0%
below the five-year average. The May
28 gas storage level for the SouthCentral
Region was down 168 Bcf from
a year ago. ❒
Coming In July
Learn more about the issues on
which independent producer
associations are working in the
next issue of AOGR.
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American Oil and Gas Reporter - June 2021

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