Chevron, the world’s third-largest publicly traded oil producer, is spending $3.3 billion this year in the Permian and an additional $1 billion in other shale basins. Some growing physical limitations in the U.S. oil patch – especially in the booming Permian Basin – could put a cap on the ongoing domestic oil boom during the second half of 2018. The DrillingInfo Daily Rig Count reached a peak for 2018 in the middle of the month, coming in at 1,105 on April 16. Since that time, the count has dropped by 20 rigs to its current level of 1085. With crude oil prices hovering near four-year highs, the U.S. Energy Information Administration (EIA) continuing to predict that the domestic industry will set […]