Search results
Results from the WOW.Com Content Network
Oil reserves in the Permian Basin were first documented by W.H Abrams in Mitchell County, West Texas in 1920. The first commercial well was opened a year later in 1921, in the newly discovered Westbrook Oil Field in Mitchell County, at a depth of 2,498 feet (761 m).
Location of the Yates Oil Field in Texas, showing major and nearby cities. Black lines are county boundaries. The Yates Oil Field is a giant oil field in the Permian Basin of west Texas. Primarily in extreme southeastern Pecos County, it also stretches under the Pecos River and partially into Crockett County.
Oil production became established in North Texas, Central Texas, the Panhandle, and the Permian Basin in western Texas. [5] The finds in North Texas, beginning with the 1917 strike in the Ranger Oil Boom west of Dallas-Fort Worth , were particularly significant, bringing substantial industrialization to the area and contributing to the war ...
The Permian Basin accounts for nearly 40% of all oil production and nearly 15% of natural gas production in the U.S., according to the Federal Reserve Bank of Dallas.
The Permian Basin also maintained its leadership in the U.S. for oil and gas drilling rigs with 310 rigs reported by Baker Hughes as of Friday, after dropping three rigs in the last week.
The lack of pipelines in Texas's oil-rich Permian Basin has producers anxiously waiting for infrastructure projects to be completed.
The significance of the region to Texas' overall production, however, has been tempered by the increase of drilling activity in the Eagle Ford Shale and the Permian Basin. [ 15 ] Since its discovery, the East Texas Oil Field has produced more than 5.2 billion barrels (830,000,000 m 3 ) of oil, and it originally contained more than 7 billion ...
U.S. oil production first peaked in 1970 at 9.6 million bopd and remained flat for decades until 2009 when hydraulic fracturing, or fracking, and horizontal drilling began, especially in the Permian.