On the Peak Permian from last open thread, make what you want of it, but I followed up with Mike (60 years experience with drilling) on his blog about the Permian issue, and got a prompt response:
Q:This is a geopolitical question related to Permian so feel free to not answer it.
Do you think Russia and China both buy time because they know that in the near term, this winter or 2023 Permian will plateau? [svayambhu108 a day ago]
A: 100%, yes. I also believe that OPEC is well aware of Permian limitations and has been very accommodating to the US tight oil phenomena over the past years because it knows it will exhaust its drilling locations and end up being deeply in debt. Its been quite good keeping world prices just high enough for the US to export 4 MM BOPD of tight oil, while it idles its production back for the future. [Oily Stuff a day ago]
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branchandroot
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Date: 2022-11-08 08:34 pm (UTC)https://www.oilystuffblog.com/single-post/seven-sisters-1994-1