Is the promise of the Permian is shrinking???
Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns, and keeping skeptical investors away.
The constraints are manifold: pipeline limits, reduced flow from wells drilled too close together, low natural gas prices and high land costs. But the most consequential is that shale-well production falls off at such a high rate — as much as 70% in the first year — that you need to keep spending cash on new wells just to maintain output.
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