The number of active oil rigs across the United States has dipped to 537, down two from last week and 48 fewer than this time last year, when the count stood at 585. Texas currently reports 255 active ...

The post is correct that the shaded area of the map, known as the Permian Basin, has large quantities of oil and natural gas.But current estimates don’t add up to a 200-year supply, and dynamic ...

This was the company’s second Permian Basin purchase, after announcing Dec. 19, 2022 it bought 640 acres on the Texas side of the basin, including 11 wells on five leases.

As Permian Basin crude oil production growth begins to moderate, operators active in the region may want to shift their focus to natural gas. “Historically, producers in the Permian have not ...

By 2030, the Permian Basin will contribute 50% of U.S. oil production. Although the Permian Basin is home to only 9.2% of New Mexico’s population, the region produces over a quarter, 25.9%, of ...

Roads and infrastructure are being planned for the area surrounding the Permian Basin Medical Center (PBMC), a highly ...

The Permian Basin’s oil and gas production were expected to grow in the next month, according to data from the Energy Information Administration (EIA), by 15,000 barrels per day (bpd) and 82 ...

A widely shared meme suggests the Permian Basin, the largest shale oil field in the United States, has “enough oil to fuel” the country “for the next 200 years.” Social media users ...

The Permian Basin is Also a Hotbed for M&A Activity As illustrated below, the Permian Basin notched a new production record earlier in 2023— about 5.7 million barrels per day . Source: Forbes ...

Three companies with extensive presences in the Permian Basin recently announced expansions and merger deals, with assets in New Mexico's Eddy and Lea Counties at play. Three companies with ...

Over the past 15 years, oil drillers turned a stretch of desert in Texas and New Mexico called the Permian Basin into the most important oil basin in the world by re-engineering pipes and applying ...