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Oil & Gas Production Leads to Economic Bonanza in Permian Basin, an Industrial Info News Alert

SUGAR LAND, TX -- (Marketwired) -- 08/13/14 -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Crude-oil production in the Permian Basin has increased 33% since year-end 2013, which could make a 10-county swath of the basin a lot richer, a lot sooner than originally predicted. In the West Texas Energy Consortium, crude-oil production totaled 76.4 million barrels in 2012, according to an economist at the University of Texas at San Antonio. He estimated the Oil & Gas Industry had an economic impact of about 14.5 billion dollars in the area in 2012.

Within this article: Information on crude oil production forecasts for the Permian Basin, including oil prices and details on the Spraberry, Wolfcamp and Bone Spring formations.

Other companies featured: Baker Hughes Incorporated (NYSE:BHI)

For details, view the entire article by subscribing to Industrial Info's Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

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