The Delaware Basin
The Permian and Delaware Basins of West Texas and Southeast New Mexico has generated hydrocarbons for about 100 years and supplied more than 33.4 billion barrels of oil and 118 trillion cubic feet of natural gas as of September 2018
Implementing hydraulic fracturing, horizontal drilling, and completion technology advancements during the past decade has reversed the production drop in the Permian, and the basin has exceeded its previous peak in the early 1970s. In 2017, it accounted for 20% of the total U.S. crude oil production and about 9% of the total U.S. dry natural gas production.
Industry titans like ExxonMobil, Chevron USA, EOG Resources and Concho are pumping billions of dollars into this area, which holds some of the most-productive oilfield geology in the nation and mature infrastructure that allows producers to get oil, natural gas and natural gas liquids to the market.