The prolific Permian Basin, the mature super basin that extends from West Texas into southeastern New Mexico, should reach an oil production record this year of 815 million bbl-plus, far exceeding the previous peak of 790 million bbl set in 1973, according to IHS Markit.
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Harvey Still Pummeling Gulf Coast Olefins Trade, Says IHS Markit
Hurricane Harvey’s flooding rains sharply reduced domestic and in turn global petrochemical production of linear alpha olefins (LAO), and operators still are scrambling to make up for the shortfall, according to IHS Markit.
October 12, 2017
Permian E&Ps Protecting Rapid Production Buildup by Hedging, Says IHS Markit
Oil-weighted exploration and production (E&P) companies operating in the prolific Permian Basin have 65% of their output hedged at an average strike price of $50/bbl, which supports aggressive drilling targets this year, according to IHS Markit.
July 26, 2017