New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. // Leaf Group, New York Department of Health: Standards for Water Wells, Pennsylvania State University: A Guide to Private Water Systems in Pennsylvania, The Average Cost of Drilling a Water Well, How to Drill a Water Well in South Carolina. As expected, the basin started to decline, but technological advances in unconventional reservoirs pushed the Permian Basin back into the game, and it is now one of the most generous in the world. Every penny counts! What Are the Dangers of Using Untreated Well Water? Midland oil and natural gas company Concho Resources drilled the second and tenth most productive wells. The Permian Basin pipeline system is an extensive system of crisscrossed gathering and transportation pipelines. How deep into the ground are we able to go? Related: U.S. Shale Growth To Flatline Within 2 Years. Texas Oil Well How Far Do We Drill To Find Oil? - Petro Online Fuel Fix: Get energy news sent directly to your inbox. Rotary drilling rigs are in continuous operation day and night across the Permian Basin. Historically, production focused on vertical development and targeted the Wolfcamp and the Abo/Yeso formations in the Northwest Shelf. document.write(write_html); To make matters more interesting, there is also the issue of higher temperature deep in the ground. The TSHA makes every effort to conform to the principles of fair use and to comply with copyright law. As I think the author hints,, don't become too infatuated with the technology because it's expensive. WebIn July the hole reached 1,433 feet, and on August 25th the daily cable reported slight showings of gas and oil at 1,774 feet. Communication. Enhanced completion designs have been a factor in lowering breakeven costs for the Permian, which is about $19/bbl for Pioneer, including drilling and development costs.