16 Jan The Permanent Permian Basin
The Permanent Permian Basin
The Permian Basin has been providing oil since the very first well was built in 1925. Naturally it’d be about time for it to give up. However, it’s not even close to that point. To say this horse is still kicking would be an understatement as it’s heading the pack.
The key components of the Permian Basin are The Midland Basin, The Central Basin Platform, and The Delaware basin. All three remained abuzz with activity during the harsh economic turmoil the rest of the oil world dealt with throughout 2016. They even say there’s barrels upon barrels of oil still hiding waiting to be discovered in the depths of the basin.
Apaches’ ingenuity is a key step in being able to keep reaching deeper oil. They’ve replaced fresh water with “brackish water from the Santa Rosa aquifer and recycling water from wells and fracking using chemicals.” (Driver & Wade, 2017) Fracking takes millions of gallons of water to run the hydraulics. There’s just not enough fresh water in Texas to cut it.
Keep a keen eye on the Permian Basin going forward. Oil may be stabilizing somewhat in the markets today, but the Permian Basin will likely be stable no matter what the markets say. Anyone can monitor the Permian Basin with Micotans’ Whelby. It lets you always see what’s new and exciting in the oil world. If you’re already working in the Permian Basin, take advantage of Micotans’ Generwell to effectively manage your resources.
Don’t forget to keep on top of this and other exciting news by monitoring Micotans’ blog at www.micotan.com/blog.
See you next week for another exciting update!
Sources: Driver, Wade. “Fracking without Freshwater at a West Texas Oilfield” Scientific American. https://www.scientificamerican.com/article/fracking-without-freshwater-at-a-texas-oilfield/. January 2017