随着美国页岩油进入新的成熟阶段，库存稀缺正在推动二叠纪盆地历史性的整合浪潮。

美国最热门的石油产区二叠纪盆地的活动在 COVID-19 大流行期间遭受了重大打击。运营商削减了钻井平台和压裂人员数量，并关闭了生产；随着油价暴跌，该行业经历了一波重组。

但今天，二叠纪又回来了。过去三年来，勘探与生产公司加快了钻探节奏，努力在力所能及的范围内支出，并向股东返还尽可能多的现金。

Inventory scarcity is fueling a historic wave of consolidation across the Permian Basin as U.S. shale enters a new phase of maturation.

Activity across the Permian Basin, America’s hottest oil play, took a major hit during the COVID-19 pandemic. Operators slashed rigs and frac crews, and shut in production; the industry worked through a wave of restructurings as oil prices collapsed.

But today, the Permian is back. E&Ps have ramped up their drilling cadence over the past three years—working hard to spend within their means and return as much cash to shareholders as possible.