07222018Sun
Last updateFri, 20 Jul 2018 5pm

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End-User News

Unfractured Wells On the Rise in Permian Region

“The vast pipe networks that haul crude from the Permian basin are almost completely full thanks to a production boom in the oil-rich area of West Texas and New Mexico that rivals Saudi Arabia’s Ghawar field in massiveness. Explorers who’ve been drilling feverishly to cash in on an OPEC-driven price rally are now slamming on the brakes to let pipeline owners catch up,” Bloomberg reports.

“As a result, the number of Permian wells that were drilled but left unfinished surged to 3,203 last month, a 90% increase from a year earlier.” This could end up being “a harbinger of oil producers actually shutting down older wells.” 

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