Permian Oil Output Slows, With Little Impact on Gas Glut

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
G B Hart/Shutterstock

Supply-chain snags, labor shortages and service cost inflation are slowing crude oil production growth this year and with it associated gas output, especially in the Permian Basin. Most publicly traded oil companies are bowing to investor demands to prioritize returning cash to shareholders over double-digit production growth, but signs are emerging that some operators are beginning to experience resource exhaustion.

Independent E&Ps, Gas Supply, Oil Supply
Wanda Ad #2 (article footer)
The latest wave of US LNG capacity expansions shows no signs of cresting, with a Sempra subsidiary green-lighting its Port Arthur LNG Phase 1 on the Texas Gulf Coast.
Fri, Mar 24, 2023
Tech giant agrees with CarbonCapture to buy carbon-removal credits from Project Bison in Wyoming, likely adding a degree of financial certainty to the project.
Fri, Mar 24, 2023
Bakken shale producers are hopeful that a bill working its way through the North Dakota legislature could help them boost production from older wells as the tight oil play continues to mature.
Thu, Mar 23, 2023