The chart above is from a trusted source on peakoilbarrel.com. Don't click the link unless you wish to sink into a shit hole of anti-America, anti-God, anti-oil, anti-Trump, anti-common-sense bullshit. Focus on the chart, above, and trust in Ovi.

Look at the rate of legacy production decline and how fast it is increasing. Jesus; it's remarkable. I have shown you this countless times. Nobody believes how fast the Permian Basin is going to drop off the face of earth when they there is no more room for 12,000-foot laterals in the Bone Springs.

As I have pointed out to you every which way but Sunday...the increased initial potential of today's longer lateral wells in the Permian Basin and ensuing 12-month production rates IS impressive. But the ensuing decline of these wells is frightening. Rystad says 90% in 3 years, I say it's higher than that. Furthermore, older wells where GOR and water production has increased are declining at much higher rates.

All the propaganda about remaining, drillable locations is based mostly on incorrect, half cycle well economics. Product prices aside, wells are less liquids productive, gassier, make more water and are now depleting faster. The shale oil sector is deeply in debt and below $65 oil makes 20-25 % returns on $10MM wells...over 15 years. Interest bearing checking accounts earn better rates than that!