Texas Crude Production to Double in Five Years

OILMONSTER.COM-  Texas crude oil production, already on a path to new highs, doesn’t seem to be slowing down any time soon.

Greg Haas, director of integrated energy for Stratas Advisors, said Texas production will roughly double within the next five years. In his presentation at Hart Energy’s Midstream Texas Conference and Exhibition on June 6, Haas forecasted that the Permian Basin would push out most of that oil at a rate of roughly 5.5 million barrels per day (MMbbl/d) to 6 MMbbl/d of crude.

Courtesy: www.oilandgasinvestor.com