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Here’s What Is Really Happening In The Permian Basin

August 8, 2019

Via: Forbes

What we’re seeing is that [Permian Basin] wells drilled this year are continuing the trend of being better than they were the year before, across the whole Permian – the New Mexico Permian and the Texas Permian. Average per-well peak rates for the New Mexico Permian since 2014 have gotten better every year, averaging about 20% better every year. But more importantly, on a cumulative basis, the same amount of time it used to take to produce a nominal break-even per well was five years [in 2014], and today it’s 9 months. – Allen Gilmer, Founder and Chairman of the Board of DrillingInfo.

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