Permian Basin Leads with 560 Rigs
Oil prices started declining this week and the “market experts” are proposing doom and gloom scenarios. While $30-60 oil is possible we do not believe that it is likely given today’s market conditions. Uncertainties are in every facet of the conversation – global demand, terrorism, OPEC pricing, US energy independence. Each uncertainty is dynamic, fluid, and ever changing.
We watch the all aspects of the supply chain across O&G to get a measure of activity and velocity of operator’s exploration and field development.