The renaissance of the Permian Basin in western Texas and southeastern New Mexico has been helped by the oil price recovery. However, the Permian’s dramatic comeback is also a sign that explorers are cracking the basin’s rich and complex geology, industry figures said in Houston last week.
"We have just scratched the surface," Chris Gatjanis, vice president for Permian operations at Halliburton, told delegates at the CERAWeek conference.
Jody Elliott, the president of oil and gas at Houston-based Occidental Petroleum, agreed. "We’re in the third [baseball] inning,"...
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