Oil prices might be down, but that hasn’t kept drillers away from the STACK play.
[The Motley Fool] America’s oil boom has undergone a lot of changes over the past few years. What started out as a North Dakota-focused boom quickly spread to Texas, and then to the Rockies and Oklahoma. And, while the downturn in oil prices has clearly slowed the boom in many of those places, low oil prices haven’t completely extinguished the enthusiasm over what’s still to come.
That’s pretty clear by listening to oil executives’ comment on the latest oil play that’s catching their eye: The Sooner Trend Anadarko Basin Canadian and Kingfisher Counties, more commonly known as the STACK play of Northern Oklahoma.
An important trend this quarter
Lost in all of the headlines surrounding weakening oil prices is the emergence of the STACK play and its potential to create value for oil companies. It’s a play that a handful of companies are turning their attention to because of the strong drilling returns they are seeing amid weak oil prices.