Explorers deserve credit for Permian renaissance

Texas-based explorers are finding new layers of permeability in the Permian Basin, allowing them to boost gas production
By Chris Noon 16 March 2017
Oil rigs in the Permian Basin, New Mexico. The area has vastly increased its oil and gas output. (PA)

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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