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Permian Basin Is Growing Into the Largest Oil Patch in the World

Permian Basin Is Growing Into the Largest Oil Patch in the World

The Permian shale play is all about setting records. Now, the region may even become the world’s largest oil patch over the next decade.
Output in the basin is forecast to reach 3.18 million barrels a day in May, according to the Energy Information Administration. That’s the highest since the agency began compiling records in 2007. By 2023, the basin may produce 4 million barrels a day, according to the International Energy Agency. The Ghawar field in Saudi Arabia is currently the world’s biggest oil field, with capacity of 5.8 million barrels a day, according to a 2017 EIA report.

Permian All-Stars Take the Stage at DUG Permian Basin

Permian All-Stars Take the Stage at DUG Permian Basin

Devon Energy, WPX Energy, and Marathon Share Successes HOUSTON (April 20, 2018) – The 2018 DUG Permian Basin conference agenda is poised to reflect the region’s position as a proving ground for producers seeking to reduce drilling costs, improve technology and expand...