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Six Formations Drive Permian Surge

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By Caroline Evans, Hart Energy
July 14, 2014

The Permian Basin produced 1.35 million barrels of oil per day (bbl/d) last year, with the bulk of the production coming from only six formations, according to a new report from the Energy Information Administration (EIA). Three of those formations--the Spraberry, Wolfcamp and Bone Spring--accounted for 75% of the increase in production.

“Counties in these three formations have driven the increase in the Permian Basin's horizontal, oil-directed rig activity in recent months,” according to the EIA. “Production from these three formations collectively increased from about 140,000 bbl/d in 2007 to ...

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