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OIL

The Permian Basin produces over 1 million barrels of oil each day which is 20% of lower 48 production.  The Permian Basin accounts for 68% of Texas' total production and 80% of Texas' reserves.

For Graphs and data on Permian Basin Oil Production and Reserves Click here.

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NATURAL GAS

The Permian Basin also produces nearly 4 billion cubic feet of natural gas each day.

For Graphs and data on Permian Basin Gas Production and Reserves Click here.

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RIG COUNT

Drilling activity in the Permian Basin usually averages 10% of lower-48 activity, but has only averaged 8% since 1997.

For Graphs and data on Permian Basin Rig Count  Click here.

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OIL PRICES

The posted price of west Texas Intermediate (WTI) crude oil averaged $ 18.30 between 1/1985 and 12/1999.

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THE OIL BUST of 1998-99

Permian Basin operators lost $2.8 billion dollars in revenue.

The Permian Basin Producing Area encompasses Texas Railroad Commission Districts 7c, 8, 8A and New Mexico Oil Commission's SE district