Estimations suggest that the Cline Shale, a part of the Permian Basin, has the potential to produce 30 billion barrels of recoverable oil, which would result in the biggest U.S. oil play ever.
Woodland HIlls, CA (PRWEB) December 04, 2012
Infocast, the leading business intelligence and networking events producer in the oil and gas industry, is set to host the Permian Basin Infrastructure & Development Summit in Dallas on January 14-16, 2013.
Bentek, an energy market analytics company, released a study earlier this month reporting that the Permian Basin production is currently exceeding takeaway capacity and local demand by 40,000 barrels a day. That number is 14,000 more than what was reported in October and is contributing to the widening of the price differential between WTI Midland and WTI Cushing.
Additionally, estimations suggest that the Cline Shale, a part of the Permian Basin, has the potential to produce 30 billion barrels of recoverable oil, which would result in the biggest U.S. oil play ever.
Though production levels and takeaway capacity have been out of sync for quite a while, some of the pressure should ease in 2013 as several pipeline expansion projects come on line, though takeaway will remain constrained in the foreseeable future. As a result of ramped-up production, pipeline infrastructure investment is booming, followed inevitably by the increased shortage of housing in the region and infrastructure.
To overcome the obstacles of the Permian Basin and assess the best opportunities currently available, look no further than Infocast’s Permian Basin Infrastructure & Development Summit. This cutting-edge event brings together key players across the spectrum who are working together to solve major challenges that come with drilling and lack of needed infrastructure in the region.
Industry leaders such as Apache Corporation, DrillingInfo, Kinder Morgan, Permian Basin Workforce Development Board, Pioneer, Tudor, Pickering, Holt & Co., WorleyParsons Group and more will all be there. Industry players must attend to get up-to-the-minute information on where growth is most likely and what crucial gathering, pipeline and transportation infrastructure projects are planned. The event allows attendees to establish key relationships that are essential for maximizing their ROI in this revitalized play.
For more information, to register for the Summit or to join as a sponsor, visit the event website at http://www.infocastinc.com/permian-basin13 or contact Infocast at 818-888-4444.
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