Stretching across West Texas and southeast New Mexico,the Permian Basin is now the largest oil-producing field in the world,with daily production of more than 4.3 million barrels of oil and 14 billion cubic feet of natural gas.Half of all drilling rigs working in the U.S.are here.It's indisputably great rock.Some experts foresee output rising to peak at 5.5 million barrels a day (MMbbl/d) by 2023,and up to 6.8 MMbbl/d by 2029."This basin will lead all other U.S.areas in production growth in the short,mid-and long term,"said Enverus.
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