Just three years ago it was the new hot spot in U.S. shale, the “Permian Jr.”, and the place where many pinned their hopes for the next oil boom. Now, oil and gas companies are curbing their operations in the STACK/SCOOP plays in Oklahoma, some are selling, and there is little evidence of the enthusiasm from three years ago. The low cost of production and high yields were among the factors that drove the rush to the STACK (Sooner Trend, Anadarko, Canadian, and Kingfisher) and SCOOP (South Central Oklahoma Oil Province) plays. Devon, Continental, and Marathon Oil were among the biggest players present there with the most ambitious plans. Now, Devon has cut its capex for the STACK/SCOOP area, and Continental and Marathon Oil have limited their operations to producing wells only with no exploration in their immediate plans, Reuters’ David French writes . The root of the problem […]