The Permian shale boom… The Telegraph – Commodity Research Group

March 6, 2017 by Jim Colburn Leave a Comment

Ambrose Evans-Pritchard from The Telegraph quotes Scot Sheffield, founder of Pioneer Natural Resources:

“”The Permian never stopped growing and now it is going to add 300,000 to 500,000 (b/d) a year. As long crude prices are around $50 to $55, we’re in the sweet spot. The rig count is going to take off,” he told the Daily Telegraph.

“We have had such efficiency gains that break-even costs in the Permian are close to $25. It took us 40 days to drill a well in 2014. We’re already down to 20 days,” he said.”

Here is the site: http://www.telegraph.co.uk/business/2017/03/05/permian-shale-boom-texas-devastating-opec/

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

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