Crude oil production from the Permian Basin increased from 850,000 barrels per day (or bbl/d) in 2007 to 1.35 million barrels per day (or MMBbl/d) in 2013. This is an increase of ~60%.
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that’s what the article says. now notice the production graph above. It looks very much like production at the end of 2014 will reach about 1.80 million Barrrels per day. That’s a gain of 450,000 barrels @ day in one year.
Also notice that the production increase slope is steepening and not flattening.
So there is no sign that the geology of the permian is putting any impediments on oil production growth despite that the permian deposits are not as beautiful/orderly as those in the eagle ford and baaken.
(Once again the wild card on production growth seems limited to the price of oil.)
The Sprayberry field was one of the most productive fields ever hit. They were fracking that field in the 1970’s and 80’s. Now with Horizontal drilling and fracking, it should make it even more productive.
Water for fracking is the largest limitation.
The average oil production per drilling rig in the Permian is half that of the Eagle Ford or the Bakken.
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
Thinking that the geology is no different is foolish.