Oil-directed drilling rigs in the Permian Basin continue to rise and are at 485 for the week ending August 24th. This figure is 29 percent higher than a year ago.
The growth of crude production in the Permian Basin has been very impressive over the past year. Estimated output in September 2018 is expected to be 3.421 million barrels per day (mmbd), an increase of 850,000 b/d, or 33 percent, year-over-year. Continue reading "Permian Takeaway Capacity: From Constrained To Over-Supply by 2020"