The Permian Basin is by far the biggest oil producer in the United States right now. Currently, more than two million barrels of oil a day are pumped from the West Texas region. News this week illustrates how interest in the Permian Basin shows no signs of slowing down.
The rig count in the Permian Basin rose for the seventh week in a row. In total, the Permian Basin recorded 342 rigs, which is amazing when you consider the fact that it recorded only 134 rigs just a year before. The Permian Basin added two more rigs this week, which made it seven weeks in a row of growth.
Reeves County in the Delaware subbasin led the way with 49 rigs. This was followed by Midland County in the Midland subbasin, which had 40 rigs this week. Other counties with a high count of rigs include Eddy County, Loving County, Lea County, Howard County, Upton County, Reagan County, Pecos County, and Culberson County.
It would be safe to assume that the Vista Sand CEO and the Granbury company’s leadership team are excited about the continued growth in production in the Permian Basin and other oil-producing areas. Vista Sand supplies frac sand to many of the companies that pump oil from these geographic areas, which also include Eagle Ford, Mid-Con, DJ, Haynesville, and the Granite Wash.
We will have to see if the Permian Basin can make it eight straight weeks next week.