Eight months or so ago Novi did a big study on parent/child interference in the Midland Basin and how severely this interference degraded future well performance and the quality of remaining Tier 1 and 2 drilling locations. Degradation is just another term for pressure depletion or to get to the point...depletion. I wrote about it here on OSC and then followed it up with a post on how to predict future degradation and rates of depletion. It's of course a mistake to believe pressure depletion will plateau and well productivity will stop getting worse. That post about predicting pressure depletion is still up, by the way.

Well productivity (EURs) in the Midland Basin on a normalized, per lateral foot basis is deteriorating quickly now in all three of the major producing benches in the Basin. That won't get better, it will get worse.

Production, however, bounces around and sometimes appears…

Read this. Lithium from Permian produced water. THIS is awesome!

A 300,000 BO U-turn well doesn't come close to paying out below $60.

They are riskier to drill and keep in zone because of the length of the sweeping turn, sticking occurs with DP and production casing, then it can be a little harder to frac the toe stages. Weigh the risk factor in the drilling phase with supposedly lower costs, and economics are still bad. All economics are bad below $60 WTI NYMEX, long, straight, u-tubed, coiled like a spring or that looks like a Cheeto.

They may be decent in really good areas in really good benches but what isn't? U-turns simply use all the available good rock there is left in the sweet spots. Drill them in bad places and they will be bad wells.

This is still very relevant below:

Doyon Rig 26, believed to the biggest land rig working in North America at the moment, has been under contract by Conoco for many years on the North Slope. It gets moved frequently in the dead of winter when everything is frozen solid. See below...

It was being moved yesterday in 30-degree temperatures, about the same as reaching 65 in Chicago in January and the ice cracked, or gave way...something, and the whole rig fell over.

Nobody was hurt, thankfully.

Twitter can't understand how a big rig like this would fall over and break into pieces; they don't understand how massive these things are, how much they weight and the physics involved. A derrick that is 140 feet high and mounted on substructure that is another 50 feet high is a little top-heavy. It's not going to fall over and then be righted and put back to work. I've seen…