The Permian Basin

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Permian Basin Introduction The Permian Basin oil field is in west Texas and southeastern New Mexico. This deposit is quite large as it is about 250 miles wide and 300 miles long. Within the Permian are several shale areas which have several different names: Wolfcamp Shale, Wolfberry Trend, Wolfcamp Trend, Wolfcamp Formation,Wolfcamp Oil Play, Wolfcamp Oil Shale, Wolfcamp Oil Field, and Wolfberry. All of these terms refer to basically the same area. The history of the Permian Basin extends nearly a century as one of the oldest and most prolific hydrocarbon-producing basins in the U.S. One of the most prolific US oil plays, the Permian Basin is home to 20 of the country’s top 100 producing oil fields, a remarkable recovery after many in the…show more content…
The productive limits of the ground have not been determined, but cover more than one million acres, and this could reach two million acres, when more ground is proven. Initial production (IP) rates often exceed 1,000 barrels of oil equivalent (BOE) per day with a 90% oil and liquids mix, very styling today. The Wolfcamp is a blanket formation across the Permian Basin and acts as a source rock for much of the areas conventional oil and gas production. The Wolfcamp rock unit generally varies in thickness from 800-1,200 feet, with some areas up to 2,000 feet thick. The depth of the Wolfcamp formation varies from around 5,000 feet on the normally pressured southeastern side of the play to more than 10,000 feet in the over pressured northwest, where the play is generally considered richer in oil. The Wolfcamp has all the necessary petro physical characteristics of a top shale play. From mature conventional fields to established and emerging shale oil plays, the Permian Basin offers something for E&P firms of all…show more content…
One key has been finding the right technological approach with the ability to take advantage of multiple productive zones, both conventional and unconventional, in the same well. Technological improvements are also key. The industry must continue to improve drilling and completion efficiencies, management of water use, optimal staffing of operations, and cost reduction in a region with a long history of oil and natural gas production, while also remaining sensitive to impacts on local communities. The Permian Basin is a story about combining the various talents of independents, majors, and service companies in using advancing technologies to sustain the lifespan of existing fields, to tap into zones that were previously uneconomic or inaccessible, and to increase proven reserves in a remarkable fashion. With America having to deal with outrageous overly priced imports of oil, there has been a pivotal breakthrough within the great heart land of Texas. There lies an opportunity for more domestic production of oil based energy available, not just any type but high quality and what appears to be limitless. Many organizations are realizing the potential that the Wolfcamp brings could be possibly as big as the California gold rush. This discovery has changed perception on the strength and viability of the US economy, which is still looking for a competitive advantage against
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