Oil has always been a major industry in Texas, but over the last few years the region has slowly been growing in activity and has fueled an economic boom the likes of which the state has never seen.
For over a century, the Permian Basin in west Texas has been steadily producing oil in the heart of America. Once considered a worn-out oil patch on its way to drying up, new technological advancement and aggressive investing have breathed vigorous new life into the region.
As a charter flight company, we keep an eye on the latest and greatest trends in business so we can best serve the needs of our clients. This one has kept our focus.
This year, production in the Permian is expected to produce about 3.9 million barrels per day, according to Time. Add that to the oil the United States produces from its other patches, and you have got one the largest producer of crude oil in the world.
By 2025, it is expected that oil production from the United States will equal that of Saudi Arabia and Russia combined, in large part thanks to the Permian Basin.
The development of these oil resources is being called a game changer in the business, and with good reason. Between the simple worth of the resources present, job creation potential and the infrastructure building projects necessary to take full advantage of the Permian Basin, the impact felt in the business world is monumental.
Getting the oil to market has been a serious challenge in the Permian, and nine new pipelines have been confirmed take up the challenge according to the Houston Chronicle. Building and maintaining them will create an untold amount of jobs, considering manufacturing the pipelines themselves, putting them in place and everything else necessary to make them part of the system of American oil production.
Naturally, this movement has enough potential to draw many companies to the region looking to capitalize on this opportunity. Although pioneering the technologies necessary to unlock the riches of the Permian were done by small local companies, several multinational organizations are starting to buy out those companies along with claims of their own. Breaking into this market is a venture opportunity companies simply cannot pass up.
Work in the Permian looks like it is unlikely to end, since the nature of the oil, locked away in rich layers of shale, is such that wells decline quickly, and drilling is a never-ending process.
Despite this explosion of available resources, the biggest issues facing work in the Permian Basin is a shortage in infrastructure and workers. This gives businesses interested in working in west Texas an open door.
If you are from an organization ready to explore the Permian Basin’s infrastructure, technology, or oil and gas business prospects, we can help.
At this time Genesis Aviation is putting together a charter partnership for interested oil and gas companies looking to move personnel between Edmonton, Calgary and Midland, Texas on a regular charter basis. We already several Alberta-based partners and are ready and willing to grow that number as demand for work and resources increase.
If you are interested in getting in on this west Texas opportunity, get in touch with us. We would love to help you.