Reading Between The Lines, The Permian Could Be A Disaster For Some Operators In The Short Term (One To Two Years) Including ApacheNow, over at oilprice.com: Permian discount could rise to $20 per barrel.
I'm not sure it was even that bad for the Bakken during the early days when takeaway capacity was lacking.
From the article:
That only magnifies the recent conclusion that some analysts have come to, which is that the Permian is now made up of “Haves” and “Have Nots.” That is, shale companies that have lined up pipeline capacity under contract should emerge from this period unscathed, while those shale companies, often smaller ones, that have failed to secure pipeline space are suffering from the discounts. Goldman has Buy ratings for Occidental Petroleum, Pioneer Natural Resources and WPX Energy because of either secure pipeline contracts or because production is hedged at fixed prices for the next year.
Goldman Sachs analysts recently met with Permian producers, and came to the conclusion that drilling activity has not slowed all that much. Even for a handful of drillers without secure pipeline space, the fact that oil prices have moved up significantly over the past year means that they still think they will spend within their cash flow, even after taking into account the discounts. Obviously, the shale industry is not monolithic, and some drillers are leaving open the option to cutback, but Goldman said one of its key takeaways was that the pace of drilling is continuing at a high rate.No companies are mentioned by name in this article, unless I missed something.
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Austin Chalk
"Analysts" are suggesting frackers will move to the Austin Chalk next. The Austin Chalk is tracked here, Louisiana and Texas.
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