The Permian Is Not Done yet – Oil & Gas 360

The Permian is not done yet – Oil & Gas 360

(Oil Price) – Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. total. Predictions of a looming peak have lately multiplied, but according to Wood Mackenzie, the Permian is not done yet—not if prices improve. To be sure, the boom days seem to be over. Production growth in the most prolific shale play in the United Sta

But the proven reserves of gas decreased 13% in the same period, in the last 12 years the reserves of this hydrocarbon fell 64%

Oil production Photo: Ecopetrol The National Hydrocarbon Agency announced that Colombia increased its proven oil reserves in 2024, making up 105% of what was produced; which means that in 2024 for every 100 barrels produced, 105 barrels were replenished. The report indicates that the ratio of reserves to production is 7.2 years, exceeding that of the previous year. The total annual incorporation for oil increased by 30%. It should be remembered …