The land area over the Permian Basin covers more than 75,000 square miles in 43 counties of western Texas and southeastern New Mexico. 

According to the US Energy Information Administration, crude oil production in the Permian Basin is expected to increase, providing a growing share of U.S. crude oil production.

The U.S. Geological Survey (USGS) has estimated that technically recoverable tight oil and shale gas resources in the Midland Basin portion of Texas’ Permian Basin (specifically the Wolfcamp Shale) could exceed 20 billion barrels of oil, 16 trillion cubic feet of natural gas and 1.6 billion barrels of hydrocarbon gas liquids.