Wolfcamp and Bone Spring Formations of the Permian Basin in west Texas and New Mexico hold oil and gas reserves estimated at 46.3 billion barrels of oil. According to a fourth quarter 2018 U.S. Geological Society report, full production estimates through 2025 predict that by 2021 one in every six barrels of oil, globally, will come from the Permian Basin.
As the oil and gas industry in West Texas continues to roar, the heavy activity of energy exploration and production translates to a constant flow of 80,000-lb. trucks traversing the roads in the state's Permian Basin. The vehicular workout foisted on Interstate 20, the east-west highway that runs through from the Texas city of Kent, near the New Mexico border, east to Louisiana, translates to a steady and ongoing maintenance schedule on the roads in and around Ward County.
ExxonMobil said a new study estimates the company's development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and human services and infrastructure improvements.
Tellurian announced April 8 that its subsidiary Permian Global Access Pipeline LLC is conducting a binding open season to secure prospective shippers for its PGAP project. PGAP is a proposed 42-in.-diameter interstate natural gas pipeline originating at the Waha Hub in Pecos County, Texas, and terminating at Gillis, La., north of Lake Charles.
It takes a lot of fuel to power the west Texas oil boom that's driving U.S oil production to record levels. In Pecos, Texas, located in the gut of the Permian Basin, DeepWell Energy Services is responsible for the housing — trailers and skid houses, mostly — and service equipment that support each of those sites.
Oil production giants Chevron and ExxonMobil have announced plans to increase the amount of oil produced in the Permian Basin in the coming years.
Due to unconventional methods — defined as extracting oil using methods other than a conventional oil well — oil production has skyrocketed in the Permian, leading to new pipelines, refineries, ports and transportation methods to move the oil and gas.
The U.S. Energy Information Administration (EIA) is predicting U.S. crude oil production will average 11.7 billion barrels per day in 2019, putting it on track to surpass the previous record of 9.6 million b/d in 1970. More than half of that is expected to be produced in the Permian Basin in western Texas and eastern New Mexico.
The Texas Department of Transportation was awarded $50 million in federal grants to pay for critical improvements needed to address safety and connectivity in the booming Permian Basin. Through its Better Utilizing Investments to Leverage Development (BUILD) Transportation grants, the U.S.
A vast field of shale rock in West Texas could yield 20 billion barrels of oil, making it the largest source of shale oil the U.S. Geological Survey has ever assessed, agency officials said. The Wolfcamp Shale geologic formation in the Midland area also contains an estimated 16 trillion cu.
Larson Electronics, a company that specializes in industrial grade lighting equipment, has announced the release of a mini tower fastened to a powder coated wheeled base, offering full portability for the mounted equipment. The WAL-XML-12- 4.5 -WC portable mini tower from Larson Electronics is an ideal solution for operators who need a portable, easy to operate system for elevating lights, cameras, and other electrical equipment to heights of 12 feet.