Despite the Permian boom in recent years, the rate of rig count and crude production growth itself will continue to fall. The slowdown is a byproduct of industry growing pains and transitioning development styles, including obstacles such as labor shortages and productivity degradation from frac hits. Permian Crude Production Forecast +788 kb/d Permian Basin Rig Count by Type and Target Texas Counties: Andrews, Borden, Coke, Crane, Dawson, Ector, Gaines, Glasscock, Howard, Reeves, Sterling, Terrell, Upton Spears and Associates’ 2020 forecast indicates the US land rig count will likely fall by 10%, assuming that oil prices stay in the mid-$50s. That would be 860 working rigs, versus 960 this year. This decrease is similar to the 10% decrease being forecast for US drilling and completion spending.

Wells drilled per rig is a good measure of rig efficiencies. Since capex for drilling and completions is expected to be down 10%, the implication in that is that we’ll see an 8% reduction in drilling activity in 2020. Rig count is expected to hover around the 800 mark for the next two years. COMPLETIONS Regarding Permian Basin production, almost everyone is forecasting a slowdown in growth. A slowdown is inevitable because the explosive growth since 2016 was a key factor in driving oil prices down since October 2018 and this led to a drop in the rig count. The rig count largely drives production and price drive the rig count. Permian Basin Rig Count by Type and Target Texas Counties: Andrews, Borden, Coke, Crane, Dawson, Ector, Gaines, Glasscock, Howard, Reeves, Sterling, Terrell, Upton status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value This statistic shows the estimated number of oil and gas rigs in the United States from 2014 to 2017, with forecasted figures for 2018 to 2022.

Solomon forecasts the gas rig count based on the number of wells that are projected associated gas production from such basins as the Permian and Bakken.

5 days ago Permian Basin Drilling RigThe U.S. oil drilling rig count rose for a second forecasts of 13.2 million bpd in 2020 and 13.6 million bpd in 2021. 9 Jan 2020 To begin, it's important to recognize that oil and gas price forecast drive the Rig count is expected to hover around the 800 mark for the next two years. at the wells, lateral lengths are increasing; especially in the Permian. The Permian Basin is one of the most prolific oil and gas basins in the US. of drilling to first production, and increased the number of wells that each rig drills. to fracture a rock formation, we use a proprietary tool to forecast the likely results. 31 Jan 2020 Diamondback Energy CEO gives forecast on oil and gas industry the state of the industry touching on the Permian Basin's accomplishments over On top of that, the rig count has dropped over the last year, and more oil 

Despite the Permian boom in recent years, the rate of rig count and crude production growth itself will continue to fall. The slowdown is a byproduct of industry growing pains and transitioning development styles, including obstacles such as labor shortages and productivity degradation from frac hits.

Enverus revolutionized the rig count process by tracking more than 95 percent of the U.S. rig fleet on a daily basis, primarily through the use of GPS units. 6 Feb 2015 In fact, Citigroup forecasts that without a “sizeable” cut in rig counts at the leading shale regions, Bakken, Eagle Ford and Permian, production  Bakken oil production forecast to top 1 million barrels per day next month. Production, depletion trends are keys to predicting natural gas and oil production. Drilling efficiency is a key driver of oil and natural gas production. Drilling often results in both oil and natural gas production. Permian Region +328 -290 +38 Indicated change in oil production (Apr vs. Mar) 0 150 300 450 600 750 Mar 16,962 MMcf/d Production from new wells Legacy production change Net change Apr 17,171 MMcf/d Indicated change in natural gas production (Apr vs. Mar) million cubic feet/day Permian Region +643 -434 +209 0 100 200 300 400 500 600 0 200 400 600 800 1000 Permian Basin Drilling activity in 2020 and 2019. This data includes wells permitted, wells drilled and well completed and wells drilled, but uncompleted, DUCs. Top Operators / Companies in the Permian Basin based on active rig count / rig locations as of 03/17/2020. Top Operators as 03/17/2020 - Texas Showing 3 of 90 Operators in Texas Wells drilled per rig is a good measure of rig efficiencies. Since capex for drilling and completions is expected to be down 10%, the implication in that is that we’ll see an 8% reduction in drilling activity in 2020. Rig count is expected to hover around the 800 mark for the next two years. COMPLETIONS

Rig count drops as drilling, completions become more efficient World Oil / February 2014 The average U.S. rotary rig count dropped in 2013 by more than 8%, compared to the previous year.

Permian Slowdown Could Start In 2020. The Permian basin has been by far the largest source of production growth in the US as the field oil production grew from 1.2M barrels per day (mmbpd) in January 2013 to over 4.2 mmbpd. Back in 2013, few observers (myself included) expected the Permian to grow as fast and as large as it did. This statistic shows the estimated number of oil and gas rigs in the United States from 2014 to 2017, with forecasted figures for 2018 to 2022.

Permian Region +328 -290 +38 Indicated change in oil production (Apr vs. Mar) 0 150 300 450 600 750 Mar 16,962 MMcf/d Production from new wells Legacy production change Net change Apr 17,171 MMcf/d Indicated change in natural gas production (Apr vs. Mar) million cubic feet/day Permian Region +643 -434 +209 0 100 200 300 400 500 600 0 200 400 600 800 1000

9 Jan 2020 To begin, it's important to recognize that oil and gas price forecast drive the Rig count is expected to hover around the 800 mark for the next two years. at the wells, lateral lengths are increasing; especially in the Permian.

Regarding Permian Basin production, almost everyone is forecasting a slowdown in growth. A slowdown is inevitable because the explosive growth since 2016 was a key factor in driving oil prices down since October 2018 and this led to a drop in the rig count. The rig count largely drives production and price drive the rig count. Permian Basin Rig Count by Type and Target Texas Counties: Andrews, Borden, Coke, Crane, Dawson, Ector, Gaines, Glasscock, Howard, Reeves, Sterling, Terrell, Upton status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value This statistic shows the estimated number of oil and gas rigs in the United States from 2014 to 2017, with forecasted figures for 2018 to 2022. Rig Counts, Unconventional Hart Energy's Unconventional Activity Tracker (Week of March 2, 2020) Unconventional rig count is up 16 units this year, or 2.5%, though activity still remains flat when compared to the 4Q19 average. Last week’s tally fell three rigs to 649 on the basis of modest declines in the Eagle Ford and Permian. The U.S. rig count finished unchanged at 790 for the week ended Friday, although some shuffling among the major plays saw activity pick up in the Permian Basin during the period, according to the

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