Permian Basin Shale
The Permian Basin – The Sleeping Giant Awakens
The Permian Basin, found in West Texas (south of Lubbock to just south of Midland and Odessa) and southeastern New Mexico is filled with Paleozoic sediments. The greater Permian Basin actually comprises several basins: the largest is Midland Basin, next is the Delaware Basin and the smallest is the Marfa Basin. The area extends approximately 250 miles wide and 300 miles long. It has one of the world’s thickest deposits of rocks from the Permian geologic period.
The Permian Basin can trace its roots back to 1925, when the first well was drilled there. Long thought to be a sleeping giant, this oil-prone play is experiencing a revival of activity with growing industry interest in unconventional resource plays, new technology, and the rising price of oil. Reports estimate, the Permian holds approximately 29% of estimated future oil reserve growth in the U.S.