Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[benfrankledger]

$CPE $PXD According to John Roberts, one of the co-authors of the IHS Markit study, there have been close to 450,000 vertical wells drilled since Santa Rita No. 1. But there have been only been around 20,000 horizonal wells drilled.

“A vertical well has a range of 45 feet,” he said. “A horizontal well can have a range of 9,000 feet or more. It’s the equivalent of 2,000 vertical wells.”