Permian Region operators are drilling shorter wells, decreasing effects of higher input costs (9/13/2023)

Permian operators are drilling shorter wells, blunting the effects of rising costs of oil and natural gas production. Shorter wells help mitigate higher prices for inputs such as iron and steel tubing. In particular, these operators are moving away from drilling deep wells, which take longer to drill and require more materials, and are instead focusing on short- or medium-depth wells. …Permian operators are drilling shorter wells, blunting the effects of rising costs of oil and natural gas production. Shorter wells help mitigate higher prices for inputs such as iron and steel tubing. In particular, these operators are moving away from drilling deep wells, which take longer to drill and require more materials, and are instead focusing on short- or medium-depth wells. …  Read More