Permian permits fall as producers drop rigs

摘要

DRILLING permits across the US continue to fall, driven by fewer new wells in the state of Texas as shale producers continue to drop rigs to keep capital costs down amid a dismal oil price environment. According to an analyst note from Evercore ISI, US onshore permits were down 11% to 424 as of the week ended 13 March — the second-lowest weekly count so far this year. The decrease in permits, which has now been continuing for three weeks in a row, is being driven mainly by a drop in wells being permitted in the south Texas Eagle Ford shale play — down by 43% to 32 — and the Permian, down 19% to 139, Evercore said.