The Permian isn’t just America’s top oil producer – it’s one of the largest oil fields in the world. According to the U.S. Energy Information Administration (EIA), oil production in the Permian totaled about 3.2 million barrels per day in May 2018.
The Permian also produced about 10.5 billion cubic feet of natural gas daily (Bcf/d) in June 2018, according to EIA.
The Permian is a key driver of Texas’ economy, with development in West Texas spurring economic growth. In March, it was reported that Midland, Texas, had the state’s lowest unemployment rate at 2.4 percent. Since then, the unemployment rate has dropped even further to 2.1 percent, according to the latest data from the U.S. Bureau of Labor Statistics.
american energy security
The Permian accounts for roughly one-third of all U.S. oil production and roughly 46 percent of all U.S. shale oil production. The Permian also accounts for about 16 percent of total natural gas production from shale, making it the second largest producing natural gas shale region in the United States behind only the Appalachian Basin.