So far this year there has been a 50% increase in rigs drilling horizontally in the Permian Basin, and the shift is likely to continue.
While the first Permian Basin well was drilled back in 1925, the liquids-rich areahas experienced a revival of activity as the oil and gas industry’s interest in unconventional resources grows along with new technologies and oil prices.
For Breitling Oil and Gas we see the Permian as the most exciting play on the horizon.
From my personal perspective from the tremendous amount of work we have analyzed, there are about three or four plays in the Permian basin that are not quite there technically. When the strategies are properly understood and implemented, you will see some of the best reserves per well in the world keeping Texas in the #1 spot on the oil and gas map for the foreseeable future.