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The Permian Basin, spanning western Texas and southeastern New Mexico, is a major oil and gas producing region characterized by three sub-basins: Midland, Central Basin Platform and Delaware. It features complex stratigraphy with layers of shale, sandstone and carbonate rocks, significant tectonic activity and high organic carbon content in formations like Wolf camp and Spraberry. The geological complexity and richness in hydrocarbons make the Permian Basin a crucial area for energy production.
The Permian Basin has a substantial economic impact on both the local and national levels. It contributes approximately $181.8 billion to the U.S. GDP and supports nearly 786,000 jobs. The Permian Basin is a key driver of economic growth, energy security and job creation.
Production in the Permian Basin has seen significant growth over time, driven by technological advancements and increased efficiency in drilling and completion processes. In recent years, the region has experienced substantial increases in both oil and natural gas output.
The Permian Basin stands out due to its significant production growth, driven by high well productivity and substantial investment in drilling and infrastructure. It is geologically more complex than other basins, with multiple oil-bearing formations, and covers a vast area of about 75,000 square miles.
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