Interesting to see the effect of lower oil price in the reduced drilling permit applications in January 2015 compared to 2014. Last year 153 this year 77.
The reduction appears to have primarily been in the unconventional fields to the north of the State whereas only small reduction in the lower conventional region. The middle area appears to be a mix of conventional and TMS.
PS: Dots aren't well locations but used to highlight the 3 sections and relate to the permit numbers.
Source: Sonris Sonlite
GGE Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
