(Editor’s Note: This story is one in a series providing expert forecasts for the global natural gas and oil markets in 2022. Look for NGI’s extensive coverage of what happened in 2021 and what can be expected in 2022 and beyond in terms of prices, the LNG export markets, ESG, Mexico’s production and project prospects, North American midstream infrastructure plans and exploration and production strategies.)

permian basin

Continued efficiency improvements are expected to be critical for natural gas and oil producers in the Permian Basin this year as cost inflation for oilfield services (OFS) takes full effect.

Larger exploration and production (E&P) independents that locked in cheaper OFS agreements in early 2021 and stuck to their capital expenditure (capex) budgets stayed somewhat...