This from Novi. It says exactly what you would expect it to say. The Midland Basin has peaked, well productivity is falling on all relative metrics (over-drilling= well interference =degradation =pressure depletion), but not to worry because Tier 1 level locations are only 55% taken and there is lots of running room.

Economics are half-cycle = breakeven @ $50 WTI, even discounted 25%. Spacing used in this analysis must be <500 feet on every bench, D&C costs remain the same forever and produced water disposal is not a problem. Pressure depletion never gets worse, in spite of more wells in the cores, etc. etc. Everything is good. Naturally.

Let's get updated on the Barnett, because everybody is hanging their hard hats on that to save the world.

I included Andrews, Ector and Crane Counties in this mix. As I've suggested before these wells are deep, require multiple strings of pipe, are over pressured and problematic to drill. The laterals so far are fairly short. The Barnett Shale play is not a big homogenous blanket like the Upper Wolfcamp, wells even appear to have a structural component and are actually quite isolated

They are gassy. The better wells that have been online for over 24 months might be headed for higher oil EUR's than the Upper Wolfcamp benches. Maybe. The jury is still out of well economics.

Interest may be waning.

For me it's interesting to hear the jive, then look at see how true it is, that's all.

The single most important question facing America's hydrocarbon future is how many remaining tight oil and tight gas wells can be drilled in the future in various Basins, the most important being the Permian. It would be good if we could standardize the definitions, make the rules all the same, quit moving the goal posts, include ALL full cycle costs in breakeven tranches and make telling the truth mandatory. But I don't think that is remotely possible. We're not going to know the real deal until its already happened and it's too late to worry about it.