Crude production in Texas’s Permian Basin has nearly doubled over the past seven years, and producers in the West Texas region expect to squeeze out even more oil in the coming years. What’s changed? In a word: fracking. The WSJ reports:
One of the state’s oldest oil fields, the Permian Basin in West Texas, is booming again, thanks to advanced technologies such as hydraulic fracturing and horizontal drilling. And Permian oil output shows no signs of stopping at its current 1.7 million barrels a day. […] The hot, new Bakken oil field in North Dakota pumps about 1 million barrels a day now. The Eagle Ford in South Texas: 1.5 million.
Texas has plenty of oil services and infrastructure to bring crude to market, but even the Lone Star State is struggling to keep up with the rapid pace of the shale boom:
The Permian is producing more oil than local pipelines can handle. Count on the next couple of years being full of pipeline planning, construction and community fights. Trains full of crude also will continue to rumble out of towns like Wink, Texas, to California and the Gulf Coast.
Across the country, oil and gas production is booming. Hydraulic fracturing and horizontal well drilling have set off an energy revolution in North Dakota and South Texas, unlocking previously fallow oil fields, but as we’re seeing in Texas’s Permian Basin, those dual technologies are also squeezing more crude out of already productive regions.This flood of hydrocarbons is boosting our economy and lowering our dependence on foreign supplies, and both of those trends look set to continue as American innovation remakes our energy future.