Permian oil output could grow 300,000 b/d/year at current price range: Pioneer CEO – Oil | Platts News Article & Story

Could add 300,000 b/d annual production at $47-$57/b

With crude near $60/b, US may see incremental 500,000 b/d-plus

Eagle Ford, Bakken need $55-$60/b to start production boost

Production in the Permian Basin, the US’ most active oil play, could grow significantly at current or slightly higher prices, but boosting Eagle Ford and Bakken output requires a step change in crude prices, Scott Sheffield, CEO of major Permian player Pioneer Natural Resources, said Thursday.Located in West Texas and New Mexico, the Permian could add 300,000 b/d a year at a $47/b to $57/b WTI price to domestic supply, Sheffield said in webcast remarks at the Barclays 2016 CEO Energy-Power Conference in New York

Source: Permian oil output could grow 300,000 b/d/year at current price range: Pioneer CEO – Oil | Platts News Article & Story

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s