Permian Basin set to surpass Bakken in spending – EnergyWire

Permian Basin set to surpass Bakken in spending

Though the Eagle Ford play in South Texas remains in first place for shale spending, West Texas’ Permian Basin is catching up to spending in the Bakken in North Dakota and Montana.

Research and advisory firm Wood Mackenzie says firms will spend $26.9 billion in the Eagle Ford this year, $15.3 billion in the Bakken and $13.9 billion in the Wolfcamp and Cline shales in the Permian Basin.

But shale drilling in the Permian Basin is still relatively new, with more companies staking their claim there this year, and the fields there could yield more spending than the Bakken by 2017.

Wolfcamp will produce 200,000 barrels per day on average this year, Wood Mackenzie says — a number it projects will grow to 700,000 by 2020 (Jennifer Hiller, Fuel Fix, July 30). — AI

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