The Positive Moment in the Oil Field Supply Gap

Both COTARA Energy and Chesapeake Energy gave very specific breakouts of overall well-cost expectations for next year in their investor relations presentations. Both companies say a path for drilling depletion costs falling between 5% and 7% for 2024. And Taro actually said it could be more like 10%. south of us in energy, they added cost in the Hanesville could fall by as much as 15% next year. But based on the overall tone from producers in their comments this quarter, we believe that trend is still positive and very much intact.