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Tuesday, 24 April 2018

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

Permian Basin Is Growing Into the Largest Oil Patch in the World - Bloomberg:

"The Permian shale play is all about setting records. Now, the region will probably 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. The size of the oil deposits coupled with increased technology and efficiency are fueling the rampant growth.

“The technology is the biggest driver,” said Rob Thummel, managing director at Tortoise, which handles $16 billion in energy-related assets. “The basin in and of itself could end up being the largest oil field in the world.""



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