Drilling Permits Surge As Oil Hovers Above $50 a Barrel

Houston Chronicle | Collin Eaton

In September, the number of drilling permits rose above 2014 levels for the first time since January 2015.

Oil companies took out a greater number U.S. drilling permits in September, boosting permitting levels 66 percent higher than this time last year, as oil prices hover near $50 a barrel. The number of U.S. land permits issued last month totaled more than 4,700, compared to 3,300 the previous month, with the biggest surges coming in California, Pennsylvania and Wyoming, according to data compiled by investment bank Evercore ISI.

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