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Permian Basin Activity Report: June 2014
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Using Shale Experts' permit database, we're examining the trends in the Permian so far this year. M&A activity is down, but overall permit activity seems to be up, and rig counts remain elevated.
This chart shows drilling permit trends over the last year, comparing vertical and horizontal permit activity on a monthly basis.
The graph below shows rig count trends on a day-to-day basis – there is a cutoff point in January 2014 where Horizontal rig count surpasses Vertical for the first time. It appears from the trend line that this will continue.
Horizontal wells permitted in the Permian show a slight decline from this period last year, though horizontal rig counts remain at their now elevated level.
Looking at M&A activity by volume, there was a substantial decline in the overall deal…
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