Oil production declines reported in Permian Basin of Texas and New Mexico

Declines in oil production in the Permian Basin of West Texas and southeast New Mexico are predicted in 2020.  A new report from IHS Markit also indicated that newer, unconventional wells are exhibiting faster production declines.

The analysis by IHS Markit involved more than 150,000 producing oil wells across the basin, according to the Carlsbad Current Argus.

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