A recent report from Rystad Energy, an energy research firm, predicts that the United States oil production is on track to produce record daily output. America produced a record 12.5 million barrels of oil per day in May, and is expected to produce a record-breaking 13.4 million barrels per day by the end of 2019. The Permian Basin is the main land source for the production spike. For example, Texas is forecasted to produce 5 million out of the 13.4 million barrels, which is 37% of total U.S oil production. The Permian Basin continues to be a growth catalyst for global oil supply.The Fracturing RevolutionFor the past decade, the U.S. continues to surprise the industry with its shale oil production output. Most recently, the U.S. has surpassed Saudi Arabia and Russia in total oil production. Since the 1950s, Saudi Arabia was the top shale oil producer. The U.S. has risen to the top due to leveraging new land supply and creating new drilling methods such as fracturing. Fracturing has significantly increased our ability to extract natural gas from shale while lowering air pollution and carbon dioxide emissions by displacing the coal. The oil and gas revolution has attributed to increased employment and economic activity within the oil communities. The U.S. growth is expected to continue due to investor support and fruitful land, especially within the Permian Basin.
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Chase Energy Services
Chase Energy Services is one of the largest privately held integrated oilfield services company in the US, providing end-to-end oilfield services through an experienced management team, innovative technologies and an unrelenting focus on safety. With more than 500 employees, the company serves customers across Southeast New Mexico and West Texas in frac and acidizing, well construction and completion, cementing solutions and well servicing. Learn.More
Chase Energy Services, Inc.11344 Lovington HWYArtesia, NM 88210(575) 748-1288
