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
US renewables sector faces near-term challenges
26 January 2022
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
INOC sets the stage for oil uptick
26 January 2022
Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy
TotalEnergies quits Myanmar
25 January 2022
The French major is transferring its stake in the Yadana gas field to its partners
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video