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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL DRILLING
Permian Basin oil drilling costs are expected to see a 10% drop next year as a slowdown in natural gas activity frees up rigs and crews according to Citigroup on Monday. The weak gas market has driven some companies to suspend or cancel drilling projects.
- This year the average Permian well cost is up 50% from 2021 due to higher prices for everything from specialized pumps and frack sand to steel pipe.
- “Declining shale gas activity and falling investment by privates within the oil basins is driving excess supply of oilfield services.”
- “In 2024, we believe operators with fewer long-term service contracts and greater exposure to Permian and Eagle Ford on the oil side & the Haynesville should witness the greatest benefit.”
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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