A new report by consulting firm Arthur D. Little finds that U.S. independents will need to adjust their business models to keep up with forecasted growth in the Permian. While production in the Permian Basin has been abundant, U.S. independent operators will need to look at new ways of doing business to position themselves for long-term value, according to a report released Oct. 2 by consulting firm Arthur D. Little. Data in the report forecasts Permian activity through the next five years to: Rise by up to 3 million barrels of oil equivalent per day Possibly produce up to 5.4 billion barrels of oil equivalent per day Have a need for up to 41,000 new wells (mostly unconventional) to be drilled to meet production outlook Require more than $300 billion in capital expenditures (CAPEX) to keep pace with growth projections In turn, independents will need to “comprehend and exploit […]