The mighty Permian shale play is now a mere 220,000 barrels per day off pre-pandemic production levels (with only about half as many rigs!).
Oil
Oil
Monday, May 17, 2021
The "fracklog" continues to work down. Shale production is flat (new recovery highs in the Permian offset declines everywhere else). More than 200 drilled-but-uncompleted wells get completed, while only 10 more rigs are deployed.
Oil
Monday, March 15, 2021
The hard-stop in Permian production during the Texas freeze was worse than the pandemic -- but a recovery already, and a huge upgrade to the US forecast.
Oil
Tuesday, February 16, 2021
No wonder oil prices are back to pre-pandemic levels, even with demand still off the prior highs. US production has only regained about a third of what was lost last year.
Oil
Monday, December 14, 2020
Shale production falls across the US. But with demand and pricing returning, and uncapped wells showing surprisingly good economics, we expect it will rise strongly in Q1.
Oil
Monday, November 16, 2020
Unlike everywhere else in the economy, the V-shaped recovery in US crude production is most definitely stalled.
Oil
Tuesday, October 13, 2020
US crude production forecasted now to be flat for 15 months. Somehow we doubt that.
Oil
Tuesday, September 15, 2020
Everything is making a V-shaped recovery -- except oil production. So shouldn't prices be higher?