I certainly hope so. I'm not an expert, nor claim to be. I was under the impression PB had played out years ago, but I am sure I am wrong about that. It's just costing more to get the stuff out of the ground.
US oil recovery: Permian Basin sees reversal of fortune
http://www.ft.com/intl/cms/s/0/0cdabaf6-a053-11e0-a115-00144feabdc0.html#axzz1SU7EXCW1
Active Permian Basin Rig count as of about a week ago = 421
http://fuelfix.com/blog/2011/07/10/permian-basin-rig-count-710/