Permian Basin on the rise Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million and includes Terry County and its immediately neighboring counties in Texas and New Mexico. Midland Basin portion of Texas’ Permian Basin...
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Permian Basin on the rise Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million and includes Terry County and its immediately neighboring counties in Texas and New Mexico. Midland Basin portion of Texas’ Permian Basin (specifically the Wolfcamp shale formation) could methods, such as hydraulic fracturing. The Wolfcamp Shale is part of the sweeping barrels per day (b/d) in May, based on estimates According to recent drilling data, more than exceed 20 billion barrels of oil, 16 trillion cubic and energy-rich Permian Basin, which includes from the U.S. Energy Information Administra- half of the rigs that have been added in the Perm- feet of natural gas, and 1.6 billion barrels of hy- a series of basins and other geologic formations tion’s Drilling Productivity Report, released this ian are generally concentrated in just five coun- drocarbon gas liquids. in West Texas and southern New Mexico. It’s past Wednesday. ties: Reeves, Loving, Midland, and Ma
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