In 2014, the United States became the world’s largest combined oil and gas producer. Today, with the help of fracking, U.S. oil production is still going strong, thanks in large part to the Permian region in West Texas. Let’s take a look at what makes the Permian so great:
1. The first commercial well in the Permian was drilled nearly one hundred years ago.
Texas and Pacific Abrams No. 1 began producing in late June of 1920.
2. Its proven oil reserves are bigger than Whataburger’s menu.
I’ll take a Wolfcamp and the Spraberry, with the Bone Springs to go! As the top producing formations, these three help the Permian produce about 2 million barrels of oil per day.
3. Infrastructure in the Permian is as impressive as Blue Bell’s flavor options.
Pipelines, storage, service equipment, and a local workforce that knows more about the oil industry than JR Ewing. What’s not to love?
4. West Texas even has its own Wall Street.
Not to be confused with the one back East, this Wall Street is enjoyed by a more “Main Street” crowd – the hard working men and women of Midland!
5. Worried about booms and busts? West Texas has been there, done that.
Folks in the Permian are familiar with ever bust, the next boom is just around the corner. Heck, they’ve even got their own Petroleum Museum that explains the history of the industry, including ups and downs.
6. If the Permian were a cat, it would gain lives. New innovations in fracking just keep bringing it back!
7. The Permian ain’t just about oil and gas. It’s the lifeblood of the region.
Of the top 10 Texas independent school districts that generate property tax revenue from oil and gas, six are located in the Permian.
8. Speaking of education, revenue from the Permian helps University of Texas and Texas A&M hang with Harvard and Yale!
Oil and natural gas revenue funds the Permanent University Fund (PUF) which contributes to both the UT and A&M endowments making them among the top ten largest college endowments.
9. What can stop West Texas? Friday night football!
Texas is the high school football capital of the world. West Texans would argue they’re a big reason why.
10. Clear eyes, full hearts, can’t lose! American energy security depends on West Texas.
Production in the Permian Basin has nearly doubled since 2008.