We have 4 Work Over Rigs running in the Permian and 1 in Louisiana. The tightness from this summer has alleviated. Rods and Tubing have backed off in price and availability is plentiful again. Human costs have increased and maintained the new higher price as well as rental equipment but steel goods have become manageable again.
The Horizontal's we are participating in are getting to 200 MBO cums in less than 10 months But there is no race to accelerate drilling. We are participating in Bone Spring and Spraberry wells at the moment with 3 wells per section being the development plan.
We added Rigs to return wells to production as opposed to plugging. We have increased our oil production by a modest amount with 1 Capital Workover this Year thus far. Most of our time has been spent on increasing produced water takeaway. We have been frac'ed into by several Operators and have seen production changes due to getting blasted i.e. 2 Bopd wells with zero water on Plunger lift now on Rod pump make 30 Bopd and 200 Bwpd due to us being wellbore only and offset Horizontals (paths maybe 300' from our verticals getting frac'ed)
The Permian oilfield is lacking sexy at the moment and everyone is just minding their business.
Again for prospective we operate 1800 Wells and have interests in 4000 non-op wells in over 30 counties in the Permian. We started buying these assets in mid 2020 and continue to make strategic acquisitions.