The Permian Basin Witnesses Continuous Production and Development Activities

Sept. 8, 2013 - PRLog -- The Permian Basin is one of the most developed basins in the US, and has witnessed major production and developmental activities in Texas and New Mexico over the last five years. Total gross production from the Permian Basin amounted to 618.8 million barrels of oil equivalent (mmboe) in 2012. The Permian Basin production from Texas contributed around 464.6 mmboe in 2012, whereas New Mexico contributed around 154.2 mmboe.

According to the Railroad Commission of Texas, Pecos County reported the highest gross production from the Texas Permian Basin in 2012, at around 50.3 mmboe, followed by Andrews County with gross production of around 37.8 mmboe. In the New Mexico Permian basin, Eddy County reported the highest gross production with around 84.7 mmboe, followed by Lea County with around 63.9 mmboe (Gotech, 2013; RRC Texas, 2013a).

The developmental growth of the Permian Basin has rewarded companies such as Occidental Petroleum Corporation, Devon Energy Corporation, Concho Resources Incorporated, and Apache Corporation, with a high volume of natural gas and high quality liquids. In 2012, Occidental Petroleum Corporation was one of the largest producers with around 89.8 mmboe from the Permian Basin. Kinder Morgan Incorporated and Devon Energy Corporation produced around 48 mmboe and 43..3 mmboe respectively in the same year (Gotech, 2013; RRC Texas, 2013a).

GlobalData's new report "Permian Basin in the US, 2013 - Oil and Gas Basin Analysis and Forecasts to 2020" provides insight into the shale gas exploration and development potential of the Permian basin. The report also provides details of the key exploration areas and major companies exploring various shales and plays in the Permian Basin.

Full details about this new report can be found at:

http://fastmr.com/prod/647227_permian_basin.aspx

This report will allow you to:

* Develop business strategies with the help of specific insights into the Permian Basin oil and gas market, primarily in the Texas and New Mexico regions of the US.

* Plan your strategies based on expected developments of the Permian Basin, primarily in the Texas and New Mexico regions of the US.

* Understand the competitive landscape of companies in the Permian Basin.

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