The King Of Shale Oil, The Permian Basin, Is Still Riding The Wave.

The King Of Shale Oil, The Permian Basin, Is Still Riding The Wave.

Warning of a petroleum pipeline running along the ground in the Permian Basin on March 2022 in ... [+] Midland, Texas. Riding the wave. The Permian basin, in West Texas and New Mexico, is producing over 5 million bpd (barrels per day) which is almost half of the total US supply. An analysis says the US has 76 billion bbl of untapped reserves and most of this is in the Permian. In late 2018 the USGS completed an assessment of the entire Delaware basin, a subset of the Permian existing in both southeast New Mexico and West Texas. They came up with over 46 billion barrels of technically recoverable continuous oil resources, plus 281 Tcf of natural gas and twenty billion barrels of NGLs. NGLs are liquid compounds more complex than methane, such as ethane and pentane. The immense quantities of oil and gas in the Delaware basin make up the largest deposit of oil and gas ever documented by the USGS in the USA. Quite simply, it's the nation's premier energy play with some of the largest recoverable reserves in the world. Two monster wells drilled by Devon Energy were announced in 2018 making 11, 000-12, 000 boe/d (barrels