texas permian horizontal drilling

Interesting article from November.
Oil price.com

http://oilprice.com/Energy/Crude-Oil/Horizontal-Drilling-Picks-up-Pace-in-Permian-Basin.html

The interesting thing is the fact that horizontal wells being drilled are near equalling new verticals.

"Craddick noted that the Permian Basin was now producing 916,000 barrels of oil per day, which represents more than 50% of the 1.8 million barrels produced daily across Texas."

From what has been consistantly in AZZ Operational reports of late, we may see some of our own horizontal wells.

As far as the approved sale going ahead is anyones guess and can be speculated on to the point of frustration.

What is important is the value to AZZ with or without the current land holding. (Or maybe part of it)

Cheers IFINO