Dallas, Texas (PRWEB) August 09, 2013
Permian Basin Witnesses Continuous Production and Development Activities - 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).
The report analyzes oil and gas exploration and production activities in the Permian Basin.
The scope of the report includes -
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