Permian Basin beats anew as heart of Texas oil production

|By:, SA News Editor

A new EIA report underscores the remarkable comeback of the Permian Basin, which boomed in an earlier era, faded and now leads the U.S. in oil production.

Daily crude oil production in the Permian, which lies under much of west Texas and part of eastern New Mexico, has increased from a low of 850K barrels in 2007 to 1.35M barrels last year.

The increased production is concentrated in six low-permeability formations: the Spraberry, Wolfcamp, Bone Spring, Glorieta, Yeso, and Delaware.

Among the top Permian producers: OXY, PXD, APA, KMP, XOM, COG, CVX, EOG, EGN, XEC, FANG.