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Permian Basin: ‘The Mother Lode’ - Texas Play Heats Up As Industry Looks to Get Back to Work (published Aug. 29, 2016)
Watching the Drama of the Permian Unfold
Move fast or lose it...That's the advice for latecomers looking for a piece of the Permian Basin. Land transactions in Texas and New Mexico are piling up at ever-increasing acreage prices, drilling and production are up and infrastructure is humming along.
Get the whole picture in this 27-page special report compiled for you by NGI's veteran oil and gas reporters and analysts who are watching developments as they unfold.
The Permian was an afterthought as the onshore renaissance took hold in the early 2000s. But recently, E&Ps have returned to their own backyard, armed with newly-honed drilling techniques.
If you're interested, it's best not to delay. There's a pervasive aroma of investment money.
"The Permian is the mother lode. You factor in 4,000 feet of shales with 12 to 14 zones to play with...We'll be drilling that for the next 100, 150 years." -- Scott Sheffield, CEO, Pioneer Natural Resources Inc.
"Two recent big deals in the Delaware were for $29,000 and $35,000/acre. That represents a huge price escalation in a very short period of time." -- Patrick Rau, Director of Strategy and Research, NGI