As Permian Basin E&Ps weigh their options for dealing with booming production volumes, insufficient pipeline capacity and widening price differentials, some are settling on a distasteful choice: cutting drilling rigs. After painstakingly winning back at least cautious approval from their shareholders to begin spending and expanding again, most US independents are loath to suggest pulling back on drilling activity. But it is increasingly being discussed in boardrooms, and some Permian E&Ps are starting to quietly take the plunge.
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