Experts see Permian Basin becoming major shale oil producing site

09/15/2013 | American City Business Journals

The Permian Basin in Texas is expected to become one of the primary shale oil producing sites in the U.S., observers say. The basin has already exceeded output in the Eagle Ford Shale play in the year's first half, data from the Texas Railroad Commission showed. Within the next five years, the Permian will produce 2 million barrels of oil per day, said Stephen Shepherd, an associate at Simmons and Co. International.

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