Permian Basin Oil Field, Texas

By Andrea http://oilshalegas.com/

The Permian Basin is a sedimentary basin located in the western part of Texas and in the southeastern part of New Mexico. It reaches from just south of Lubbock, Texas, to just south of Midland and Odessa, extending westward into the southeastern part of New Mexico. The Permian Basin region includes the following counties:

- Andrews County, Andrews, TX

- Borden County, Gail, TX

- Crane County, Crane, TX

- Dawson County, Lamesa, TX

- Ector County, Odessa, TX

- Gaines County, Seminole, TX

- Glasscock County, Garden City, TX

- Howard County, Big Spring, TX

- Loving County, Mentone, TX

- Martin County, Stanton, TX

- Midland County, Midland, TX

- Pecos County, Fort Stockton, TX

- Reeves County, Pecos, TX

- Terrell County, Sanderson, TX

- Upton County, Rankin, TX

- Ward County, Monahans, TX

- Wrinkler County, Kermit, TX

The Permian Basin is a large oil and natural gas producing area which is part of the Mid-Continent Oil Producing Area. Up to the beginning of 1993, total production for that region was over 14.9 billion barrels. The towns of Midland and Odessa serve as the headquarters for oil production activities in the basin.

Currently, Pioneer Natural Resources Co. (PXD) is the largest operator in the Permian Basin with approximately 20,000 locations and roughly 900,000 acres under lease in the Permian Basin. Pioneer Natural Resources Co. (PXD) also predicts that they will eventually be one of the largest operators in South Texas with their Eagle Ford Fleet.

Permian Basin News, 2010:

- Occidental Exec:Negotiated $1.5B Acquisitions Mainly In Permian Basin
- Concho Resources Inc. to Acquire Oil & Gas Assets in the Permian Basin for $1.65 Billion
- Apache to Acquire BP Assets in Permian Basin, Canada and Egypt For $7 Billion

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