Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. total.

After the rollup, Permian Resources is the largest pure-play oil company in the Delaware Basin (straddling the Texas/New Mexico border) with 450,000 net acres and 370,000 barrels per day of output.

Despite record U.S. crude oil production, limits to growth have started to emerge. In the Permian, the gas-to-oil ratio (GOR) has steadily risen from 34% of total production in 2014 to 40% in 2024.

ExxonMobil produced 1.5 million barrels of oil equivalent per day from the Permian Basin by the end of 2024 and anticipates producing 2.3 million barrels per day by 2030, an increase of over 50%.

New Permian oil pipelines unlikely to be built, say top operators By Arathy Somasekhar October 25, 20242:07 AM PDTUpdated October 25, 2024 ...

Occidental Petroleum OXY -0.20% is in talks to buy CrownRock, a major energy producer in the west Texas area of the Permian basin, continuing a frenzy of deal making in the oil patch. A deal for ...

The Permian Basin also held steady with 327 rigs in the last week, Baker Hughes reported Friday, while Texas and New Mexico were first and second in the U.S. for rig counts, respectively.