Fracking In The Permian -- June 21, 2017

This Rigzone article touches on fracking across all plays in the US but for the most part it concentrates on fracking in the Permian. I will post the data points from the article, again, which seem to be focused on the Permian; readers can decide for themselves how much these data points reflect reality in the Bakken:

• for US rig count to linger above 900, E&P companies would have to increase spending by 70% -- not going to happen; or well costs would have to flip and actually decline -- also, not going to happen
• most E&Ps and majors have already met their production targets for the year (and it's only June)
• operators are now drilling longer laterals (this obviously refers to the Permian; the Bakken is "steady" at two-mile laterals)
• takes twice as long to complete a well as to drill a well (an irrelevant observation; readers understand why)
• in the Permian where operations are moving into the Delaware, pad drilling is used less than elsewhere in the basin
• overall, well costs appear fairly flat this year, though signs of increase are starting to build
• completions make up about two-thirds of a well's cost
• completions need to catch up to a rig count that got ahead of itself
• analyst: the meme that "shale is economic below $50/bbl is false" but I guess, like global warming, if you say it enough times, it becomes the truth