Containing nearly half of the country’s drilling rigs, the Permian Basin has steadily increased its oil and natural gas production — with a pandemic-related pause in 2020 — since the unconventional shale revolution began there. over ten years ago.
Today, the Energy Information Administration predicts steady growth will send Permian Basin output to record highs in August. In its productivity report, the EIA said oil production would increase by 78,000 barrels per day to a record 5.554 million barrels per day in August. At the same time, natural gas production is expected to increase by 166 million cubic feet per day to more than 20.54 million cubic feet per day.