It is the crown jewel of the U.S. shale industry, but it’s in crisis. Thousands of layoffs, numerous bankruptcies, canceled land auctions, plummeting rig counts, and fewer fracking crews have plagued the Permian for the better part of this year—but is the worst behind the landmass that is America’s best (and perhaps only) chance at oil independence? Some, like Chevron, would say yes, but other Permian players are still making adjustments to be able to weather the effects of diminished demand and low oil prices that are, in some cases, below their pre-pandemic breakevens. Will Permian oil companies soon rise from the ashes of the pandemic, or will many more succumb to the pandemic’s aftermath before it’s over? Permian Production In the Texas part of the Permian Basin, oil production has trailed off significantly in 2020. In 2019, the average daily oil production in the Texas Permian reached nearly […]