Please join us for a continental breakfast and informal discussion of the Permian basin and its role in global crude markets.US tight oil represents a small percentage of global crude supply, but it’s intrusion into world markets has been profound. This “short-cycle” source of supply has been far more responsive to market price signals than conventional, “long-cycle” oil from OPEC or non-OPEC sources, which cannot be turned on-and-off as quickly or easily. Thus, short-cycle oil serves as “peaker wells” that delay longer-cycle conventional projects on the economic margin. And with “paper markets” now many times larger than the underlying physical barrels, market signals get amplified many times over. While not the same as Saudi Arabia’s spare capacity in the strictest sense, the axis of supply has shifted westward and the marginal barrels of supply now come from Texas. World markets have taken notice and grown fixated on admittedly problematic indicators, like Permian rig-count. An understanding of the Permian’s technical attributes and challenges is important for all. This talk will focus on the technical challenges of the Permian Basin and their global impact.For more information or questions, please contact:Dan Shaughnessy: dan@interp3.comPervez Agwan: pervez.agwan@poweradvocate.com