© 2019 Bloomberg Finance LPThe Permian shale play in West Texas continues to see growth in oil and gas production, surging past all pessimism and expectations. This month, the Permian will account for ~35% of U.S. crude production and ~17% of natural gas supplyOil and gas extraction in the play has more than doubled since 2016. With natural gas prices sunk, however, the company did shut-in some Permian gas. Data source: EIA; JTCLooking forward, Permian production is sure to remain strong. The rise of the supermajors in the Permian is a positive development for the U.S. oil and gas industry.

Source: Forbes May 01, 2019 14:12 UTC