SUGAR LAND, Texas, March 27, 2017 /PRNewswire/ -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--U.S. crude oil production from unconventional formations is surging, recapturing ground lost since prices collapsed in late 2014. The Permian Basin, located in West Texas and southeastern New Mexico, is driving the industry's recent turnaround. During crude oil's two-year swoon, from late 2014 to late 2016, production in the Permian fell far less than production in the other unconventional formations, helping keep a bad story from becoming worse. Now, with higher prices, production from the Permian is surging.
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SOURCE Industrial Info Resources