Jan 31 2025 4 mins 1
This is your Breaking Caliche: Hard Stories from the Permian Basin podcast.
I'm sitting here in the heart of West Texas, surrounded by the vast expanse of the Permian Basin. This land is known for its rugged beauty and its rich oil reserves. But beyond the surface, there are stories of grit and determination that define this unique region.
I'm thinking of men like William H. Abrams, who back in 1920, drilled the first successful oil well in the Permian Basin. His perseverance paid off, but it was the Santa Rita No. 1 well, drilled by Texon Oil and Land Company in 1923, that truly revealed the basin's potential. That well, blessed by nuns and christened for the Patroness of Impossible Causes, would go on to produce oil for 70 years.
Fast forward to today, and the Permian Basin is booming. It's the largest oil-producing region in the United States, accounting for about 46% of the nation's crude oil production. That's more than Iraq, the United Arab Emirates, or Kuwait. The Texas Oil and Gas Association reported that Texas supplied 42% of the nation's oil in 2023, with most of that oil coming from right here in the Permian Basin.
But with this growth comes challenges. At a recent Texas Tribune event in Odessa, industry experts and local leaders discussed the need to balance economic growth with environmental concerns. Stephen Robertson, executive vice president of the Permian Basin Petroleum Association, emphasized the importance of addressing orphaned wells, which can leak toxic chemicals into the environment. He advocated for more funding to plug these wells, not from taxpayers, but from fees and taxes paid by the industry itself.
Despite these challenges, the Permian Basin remains a place of opportunity. Big oil companies are paying billions to buy up smaller competitors, and the region's unique location, with its proximity to major export terminals, makes it an attractive place to do business. As Robert McNally of Rapidan Energy put it, "It's almost like real estate: location, location, location."
But beyond the deals and the dollars, there are the people who call this place home. People like Savannah Morales, CEO of the Midland Hispanic Chamber of Commerce, who are working to ensure that the economic benefits of the oil boom are shared by all. And people like Katherine Zimmerman, decarbonization director for Americas at Wood, who are pushing for a more sustainable future.
These are the stories that define the Permian Basin – stories of grit, determination, and a deep connection to the land. It's a place where the tough exterior hides a rich history and a resilient people. And it's these stories that we'll be exploring on Breaking Caliche.
For more http://www.quietplease.ai
Get the best deals https://amzn.to/3ODvOta
I'm sitting here in the heart of West Texas, surrounded by the vast expanse of the Permian Basin. This land is known for its rugged beauty and its rich oil reserves. But beyond the surface, there are stories of grit and determination that define this unique region.
I'm thinking of men like William H. Abrams, who back in 1920, drilled the first successful oil well in the Permian Basin. His perseverance paid off, but it was the Santa Rita No. 1 well, drilled by Texon Oil and Land Company in 1923, that truly revealed the basin's potential. That well, blessed by nuns and christened for the Patroness of Impossible Causes, would go on to produce oil for 70 years.
Fast forward to today, and the Permian Basin is booming. It's the largest oil-producing region in the United States, accounting for about 46% of the nation's crude oil production. That's more than Iraq, the United Arab Emirates, or Kuwait. The Texas Oil and Gas Association reported that Texas supplied 42% of the nation's oil in 2023, with most of that oil coming from right here in the Permian Basin.
But with this growth comes challenges. At a recent Texas Tribune event in Odessa, industry experts and local leaders discussed the need to balance economic growth with environmental concerns. Stephen Robertson, executive vice president of the Permian Basin Petroleum Association, emphasized the importance of addressing orphaned wells, which can leak toxic chemicals into the environment. He advocated for more funding to plug these wells, not from taxpayers, but from fees and taxes paid by the industry itself.
Despite these challenges, the Permian Basin remains a place of opportunity. Big oil companies are paying billions to buy up smaller competitors, and the region's unique location, with its proximity to major export terminals, makes it an attractive place to do business. As Robert McNally of Rapidan Energy put it, "It's almost like real estate: location, location, location."
But beyond the deals and the dollars, there are the people who call this place home. People like Savannah Morales, CEO of the Midland Hispanic Chamber of Commerce, who are working to ensure that the economic benefits of the oil boom are shared by all. And people like Katherine Zimmerman, decarbonization director for Americas at Wood, who are pushing for a more sustainable future.
These are the stories that define the Permian Basin – stories of grit, determination, and a deep connection to the land. It's a place where the tough exterior hides a rich history and a resilient people. And it's these stories that we'll be exploring on Breaking Caliche.
For more http://www.quietplease.ai
Get the best deals https://amzn.to/3ODvOta
