M&A deals in Permian basin exceeded US$100-billion in 2023, consultancy says Reuters Published December 12, 2023 ...

More: Here's the latest oil and gas drilling rig count in Permian Basin, New Mexico and Texas This came on the heels of Permian Resources $4.5 billion buyout of Earthstone, which closed on Nov. 1.

Oil production in the Permian is forecast by the government to rise 0.6 per cent in December to 2.02 million barrels a day, even as drillers have idled 59 per cent of the rigs there in the past year.

The Permian Basin, a petroleum-rich part of West Texas and southeastern New Mexico, is in the middle of a historic oil boom that is creating both vast new wealth and complicated new problems.

In addition to the potential 20 billion barrels of oil, the Wolfcamp Shale geologic formation, which is part of the energy-rich Permian Basin, in the Midland area of Texas also contains an ...

Roughly 2.5 GW comes from residential and commercial sectors in West Texas and ~30% of that came on the back of accelerated Permian oil and gas development since 2017-2018.

Amid concerns in Canada over the resilience of the U.S. shale industry, one region presents a particularly imposing figure: the Permian Basin of West Texas and southeast New Mexico. Major producers ...