The average productivity of new wells in the Permian Basin is set to hit a record high in 2022, breaching past 1,000 barrels of oil equivalent per day (boepd) due to a surge in lateral well length, Rystad Energy research indicates. New wells are expected to break the 1,000 boepd threshold in 2022 for the first time on record, rising from the 974 boepd achieved in 2021. Average daily production levels have steadily climbed since 2010, closely aligned with the horizontal well length, which is expected to reach 9,500 feet in 2022. The total completed…
