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"In that extremely possible scenario, it will not be hard to see reasons to support a situation in which oil prices could remain elevated long after the immediate crisis fades. A possible new short-term baseline has already been discussed, hovering above $100 per barrel. This is not fiction or a temporary spike. If, in the next days or weeks, infrastructure damage increases (or worsens), combined with geopolitical tensions, levels of $120 or even $150 cannot be ruled out."
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https://oilprice.com/Energy/Crude-Oil/The-Myth-of-the-Oil-Glut-Is-Dead.html
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The "expert" observation of the year is that because Permian Basin HZ tight oil wells are getting "gassier," and GOR rising,
there will be more associated production from the Permian in years to come for LNG exports and natgas powered AI data centers.
Some go so far to say that even though liquids productivity is declining in the Permian, gas production from the same oil wells will plateau and hang in there forever.
Nothing could be further from the truth, as evidenced on the left.
Here you can clearly see, with realized production data from Novi, that associated gas decline rates are steepening compared to earlier years and the onslaught of over-drilling induced pressure depletion.
This is a big deal. In solution gas drive mudstone, gas begins to outpace liquids, GOR increases, liquids decline, then gas declines. Associated gas NOT produce forever. Permian Basin gas EUR's are very predictable at around 2.5-2.8 BCF. Try making a living on that !
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The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.
