Operators drilling in the Permian basin in the US are being more cautious in their projections for activity levels in 2016 after having had to back off plans to ramp up their rig counts at the end of 2015 due to the prolonged downturn in oil and natural gas prices.
Many operators on the Midland and Delaware sides of the Permian basin are projecting their drilling budgets will decline in 2016 as they try to align their spending with their cash flow.
Concho
