Tight oil in the Permian Basin

The Permian Basin Provides the Ideal Environment for Horizontal Drilling News of oil in the Permian Basin is not new, as that area has been an arena for commercial exploration since the 1920s with over 30 billion barrels of oil produced since then. At this time, the output hovers around 1 million barrels per day. This output has been greatly augmented by the discovery of new methods for extracting light crude oil from the shale play of the region. The Permian Basin contains many layers of this light oil, also called light tight oil or tight oil. Hydraulic fracturing (fracking) and horizontal drilling technologies have proven successful in other shale plays for extracting tight oil. In the past, many of the resources such as oil, natural gas, and crude oil were not considered economically recoverable because of the cost to implement and maintain horizontal wells. Even though the costs have come down considerably as technology advances, many of the companies already successful with vert
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