SOURCE: Industrial Info Resources

Industrial Info Resources

August 13, 2014 06:00 ET

Oil & Gas Production Leads to Economic Bonanza in Permian Basin, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Aug 13, 2014) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Crude-oil production in the Permian Basin has increased 33% since year-end 2013, which could make a 10-county swath of the basin a lot richer, a lot sooner than originally predicted. In the West Texas Energy Consortium, crude-oil production totaled 76.4 million barrels in 2012, according to an economist at the University of Texas at San Antonio. He estimated the Oil & Gas Industry had an economic impact of about 14.5 billion dollars in the area in 2012.

Within this article: Information on crude oil production forecasts for the Permian Basin, including oil prices and details on the Spraberry, Wolfcamp and Bone Spring formations.

Other companies featured: Baker Hughes Incorporated (NYSE:BHI)

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