North Dakota Legislature, New Governor Need To Take A Look -- November 15, 2016
From
SeekingAlpha today, data from EIA:
- West Texas' Permian Basin now holds nearly as many active oil rigs as the rest of the U.S. combined, including those offshore;
- the rig count has been rising since this summer, but the Permian began seeing rigs increase earlier than the U.S. as a whole, and is adding rigs more quickly;
- of the ~450 total U.S. rigs, the Permian now accounts for ~220; and,
- Permian production has reached 2M bbl/day of oil, while south Texas’ Eagle Ford and North Dakota’s Bakken have each fallen to below 1M bbl/day
A thought:
North Dakota is known among the oil and gas companies that it is a
high-tax state compared to Texas; and North Dakota is becoming known as the state
that can't get a pipeline built. With the enthusiasm for the Permian,
and the current crude oil glut, the ND legislature and the new governor should
probably address these two issues.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.