Mella McEwen, Oil & Energy reporter with the Midland Reporter-Telegram (MRT.com), cites Sourcenergy in an April 25, 2022 article on oil and gas trends in the Permian Basin.
A few interesting quotes from the article include:
“The company’s (Sourcenergy) blog post said there are 426 permits on 143 well pads currently under construction or completed. That’s up from 85 in February. Sourcenergy says well pad or frac pond construction often takes place before drilling begins.”
“EOG Resources led the top 10 operators driving this activity with 45 pads detected. Diamondback Energy was second with 33 and Occidental third with 28.”
“Well pads show real commitment to move forward on drilling a lease. Also, since labor and equipment are in short supply right now, an operator can’t do anything with their permits unless they can also get dirt work crews to build the roads and pads first, which is not always so easy these days,” wrote Josh Adler, Founder & CEO, Sourcenergy. “By analyzing real world oilfield activity on the ground from space for the entire Permian every day we are able to see what’s really happening, rather than relying on low-signal regulatory data alone.”
The data and trendline analysis for this news story is from DirtWork Alert, part of the Sourcenergy platform that delivers upstream oil & gas data to the industry. DirtWork Alert features our satellite intelligence methods that predict drilling earlier and more accurately than drilling permits.
Learn how Sourcenergy can help your company get ahead of the pack to find new oilfield deals first without wasting efforts on the many permits that never get drilled.