Cartoon For February
Onward into Tier 2 and 3 stuff the US tight oil industry goes. Asia, the UK and the Netherlands, the largest recipients of US tight oil exports, ALL of which comes from the Permian Basin, need not worry, however; the American shale industry just needs more water, more sand, and more money. There will never be a tight oil shortage.
But then again, there is stuff like this, below, around every corner. Its just that nobody wants to talk about it...
For many operators in the Delaware Basin, specifically Reeves County, however, they've actually been drilling Tier 3 stuff for years... on the same units, just 330 feet away from what 3-4 years ago use to be Tier 1 stuff. Not miles away, mind you, out in goat pasture, but on the same damn drilling units.
As an aside, please; for all the bullshit about "free cash flow" in 2021 being used to appease investors with massive dividends and the deleveraging of long term debt?
Every pure tight oil company reporting 1o-Q's and K's thus far for 2021...all ADDED debt year on year, '20-'21.
That's a fact, Jack.