Related Articles
Drilling activity is steadily returning to pre-pandemic levels in Texas
Forward article link
Share PDF with colleagues

Private operators drive Permian recovery

Strong market conditions are encouraging private producers in Texas and New Mexico to lift drilling activity

All the signs are positive for US shale. The WTI crude benchmark has broken through the $80/bl ceiling for the first time in seven years and the rig count has more than doubled since last October. The post-Covid recovery is well and truly gaining momentum. Strong oil prices have compelled producers to work through their backlog of drilled-but-uncompleted wells, as showcased by the rapidly rising rig count. Last week, the rig count climbed to 533, its highest recorded level since early April last year when the pandemic first started to sink drilling activity.    And the Permian basin—the bulwark of Lower 48 oil production—is leading the recovery. The rig count in the basin has recently soar



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Beijing strives to balance security and decarbonisation
15 October 2021
The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years
Occidental exits Ghana
15 October 2021
The US super-indie is divesting its assets in the country
Gran Tierra cranks up the gears
14 October 2021
Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video