AND PERMITS
That means if you have a lease, you cannot drill.
“That means if you have a lease, you cannot drill.”
It means if you have a lease but no permit you can’t drill.
A lot of existing permitted leases that were shut down are being reopened since they are profitable at these prices and they keep workers working. Estimates are that US production will rise by 1mm barrels a day by next year despite Biden.
That will still leave us about 4mm barrels a day below our peak.