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Permian Basin witnessed drastic drop in drilling activity during Covid-19 pandemic

07 Oct 2020 (Last Updated October 7th, 2020 10:15)

GlobalData’s latest report, Permian Basin in the US, 2020 – Oil and Gas Shale Market Analysis and Outlook to 2022, says that the Permian Basin is expected to observe average crude and condensate production of approximately 4.3 million barrels per day (mmbd) in 2020, an annual decline of 5% from 2019.

In 2020, the Covid–19 pandemic and the decline in crude prices have severely impacted the drilling activity in the Permian Basin region.

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