Permian’s Pancaked Rock Layers Make It the U.S. Oil Patch King
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In West Texas, the king of the U.S. oilfields is proving to be the safest investment for explorers.
The Permian Basin added the most drilling rigs of the four major U.S. oil plays last week. Output from the region, which stretches into southeastern New Mexico, will rise by 5,000 barrels a day in August, the Energy Information Administration estimates. The Eagle Ford in south Texas, the Bakken region of North Dakota and the Niobrara of Colorado and Wyoming will all drop by at least 20,000 barrels.