Permian Basin Decline Rates Have “Increased Dramatically” Amid Ongoing Slowdown

A new report says that production growth in the world’s most prolific unconventional basin is on the verge of stalling out.

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“Base decline is the volume that oil and gas producers need to add from new wells just to stay where they are—it is the speed of the treadmill,” said Raoul LeBlanc, vice president of the unconventional oil and gas unit at IHS. “Because of the large increases of recent years, the base decline production rate for the Permian Basin has increased dramatically, and we expect those declines to continue to accelerate. As a result, it is going to be challenging, especially for some companies with cash constraints, just to keep production flat.”

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