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April 15 - 17, 2019
A prolific resource stacked deep with oil and natural gas, the Permian Basin is a proving ground for producers seeking to reduce drilling costs, improve technology and expand acreage. U.S. shale players continue to fine-tune processes and add value. Many are streamlining portfolios by shedding strong assets in other regions — just to get a better foothold in America’s “Super Basin”.
A geographically gargantuan area larger than South Carolina, the Permian Basin was recently dubbed “Saudi Texas”. It holds between 500,000 and one million barrels of idle oil production capacity (compared to Saudi Arabia’s 1.5 million bbl/d capacity, via Bloomberg). Numerous pipeline new-builds and expansion projects will soon alleviate this bottleneck as midstream companies invest “tens of billions” in a field that was once declared dead.