[Context: During the week of May 21, 18 private equity-backed companies received approval for permits to drill 40 wells in Texas, three-quarters of which are horizontal wells. More than half were in the Permian. Those 40 permitted wells represent a combined 388,000 feet of potential wellbore. Assuming a modest $100 per foot of drilling cost, those companies would need to spend nearly $40m just to drill those wells. Completing the wells would cost several times that amount. Further details and related links are below.]

This content is for Introductory members only.Learn more about OilGasEquity.com
Log In Register