The Permian Basin in West Texas is truly a story of the Phoenix rising from the ashes. Since its discovery, the oil-rich region has had its ups and downs, with activity sloping downward through the 1960s and early 1970s, reviving with higher oil prices in the late 1970s and 1980s, dwindling again in the 1990s and then roaring back in the 2000s. Now there is a growing consensus that the region may hold much more oil than was ever estimated in the past.
In a new research report, the oil exploration and production analysts at Wunderlich make it very clear they like the Permian for the variety of stacked pays offered. They also think that producers are just starting to understand the full potential of the resource plays in the region. They estimate that there is the potential for more than 100 years of production and that the region could have well over a billion barrels of oil. Due to the incredible resource size, most of the major exploration and production companies are there, in addition to the large integrateds. The following are the companies with the resources to exploit the huge amount of oil in the region.
Read more at Yahoo News