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 million barrels of oil and 14 billion cubic feet of natural gas, it is a major factor in the U.S. transition to become a net oil and gas exporter and in the transformation of the state of the global oil market.
Although the basin is in a part of the country with a long history of oil and gas production, the pace and scale associated with its growth has had major impacts and presents many challenges. Moreover, during the short time scale that the industry has been producing this type of unconventional resource, accurately forecasting its rate of growth has proved problematic. However, if the average of the current range of estimates proves to be correct, the region will continue to see significant increases in production in the coming years.
This conference, part of the CSIS Energy & National Security Program’s Energy in America project, will explore the evolution and impact of oil and gas development in the Permian Basin, and the opportunities and challenges, both economic and environmental, that lie ahead.