An unrelenting surge in Permian Basin drilling, which is driving record gas production growth there this year, now appears to be facing market and infrastructure constraints that could come as early as the second quarter. On Friday, rig count in the West Texas-New Mexico play edged up to 437 and is now at its highest point since early 2015, data published by Baker Hughes shows. The addition of nearly 60 rigs to the basin since mid-October has boosted dry gas production there by more than 1 Bcf/d, or about 20% over the same period. Earlier this month, that buildup helped to lift Permian gas production to its highest level on record at an estimated 7.2 Bcf/d, S&P Global Platts Analytics data shows. But Permian production growth could soon be the victim of its own success. Article continues below… Whether you’re a risk manager, research analyst, trader or broker, Platts […]