Permian expected to hit 4 MMBOPD in March
By Richard Rostad, analyst, Oil & Gas 360
EnerCom has released its latest Effective Rig Count, linking the state of drilling activity and the reported production from the major shale basins.
Oil and gas companies have significantly improved efficiencies during and after the downturn, and each rig in the major shale basins is yielding 2.9 times as much production as rigs from January 2014, the pre- downturn benchmark. However, trouble in major basins is reversing some of the gains achieved.
The Effective Rig Count declined by 80 in January, the second drop in a row. The EERC now stands at 2,793, down 128 from the November 2018 peak of 2,921. An Effective Rig Count of 2,793 means it would requ...

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