The Permian basin, a long time oil and gas producing region nestled in west Texas and southeastern New Mexico was once believe to have reached “Peak Oil” extraction levels. A significantly larger play than the booming Eagle Ford Shale, the Permian Basin has reemerged as a production pillar for the US, thanks to advancements in horizontal drilling and hydraulic fracturing. Although still in early stages of new production, the Permian has already transformed the local economies surrounding the play, adding to the energy security of the U.S. In this issue of the DI Expert eBook, by Drillinginfo, the premier provider of data and insights for oil and gas exploration decisions, our expert analysts have delved into the complexities of the geology in the Permian, highlighted the successes of operators in the region and provided in-depth analyses on the play’s re-emergence.
Making predictions is a risky activity. Making predictions in the utility industry can be perilous. History is filled with missed or prematurely exuberant pronouncements of the future of utilities and energy. For example, in the late 20th century, many predicted that the world’s oil supply had reached peak production and would become scarce. Instead, shale gas and oil are in abundance. In the 1990s, people predicted that fuel cells and hydrogen would dominate the landscape by 2010, another illustration that predictions can fail to reach their promise.
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