Permian Basin

dan_s · Post by **dan_s** » Sat Feb 18, 2017 11:34 am

Permian Basin oil production there is expected to reach 2.5 million barrels per day by the end of 2017, up from roughly 2.1 million bpd today, according to estimates by Sam Burwell, an analyst with Canaccord Genuity Inc. based out of Houston. If prices remain approximately at today’s levels, that number could reach three million bpd by the end of 2018—a nearly one million bpd jump in two years.

Outside of the Permian Basin U.S. production is expected to be flat to up 200,000 BOPD.

Read: http://business.financialpost.com/news/ ... s-heats-up

“We stress test all of our investments down to a US$40 and even a US$30 oil case,” said Mark Burford, the CFO of Cimarex Energy Co. during a conference call Thursday. “We have a lot of cushion on our returns at that US$40 downside and, depending on the project, many of them look very healthy at that US$30 downside.”