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Permian Basin Drilling Activity : Rigs by Operator; Wells
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In this week Permian Basin Drilling Activity. We take a look at who has been driving the Rig Count growth in the Permian Basin.
As you can see, the big drivers of the growth has been companies like Exxon who added +19 rigs this year,
Concho added +6 rigs this year
Energen added +5 rigs this year (Acquisition by Diamondback Energy pending)
Centennial Resources +3 rigs this year.
For more details on all the operators operating in the Permian and their year to date growth, click here (requires a subscription)
Permian Basin Rig Count vs Well Permits
As you can see, permian operators started slowing down permitting at the end of June, into July. Permitting slowed down until the end of October, when we are starting to see an increase in permitting.
The slowdown is not anything new. Year over year comparsion shows that last year, there was a similar slowdown in activity.
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