“Base Decline” Rate of Oil and Gas Output in Permian Basin has Increased Dramatically Because of Recent Growth; Operators Must Drill More Wells to Maintain Production Levels, IHS Markit Says

HOUSTON--(BUSINESS WIRE)--Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels and even more to grow production, owing to the high level of recent growth, according to an analysis by IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions.