American Oil and Gas Reporter - September 2020 - 91

pages 85-91_Layout 1 9/21/2020 3:08 PM Page 91

"At the same time, technological advancements in hydraulic fracturing and
horizontal drilling have allowed producers
to become more efficient while reducing
surface-level impacts," the report continues.
"In short, producers are able to extract
more oil and natural gas today than was
possible even a decade ago."
Nevertheless, the report maintains,
along with the slumping global economy
and impacts from the pandemic, the Permian Basin also faces some other barriers.
Thoughtful and proactive investments in
the region's roads, broadband, schools
and housing will position the Permian
for unprecedented future growth, it holds.
The report estimates that $1 billion invested in local roads will prevent more
than 4,000 traffic incidents and almost
200 fatalities.
"The Permian Basin's growth over the
past decade has created prosperity for
not just the immediate area, but statewide
in Texas and New Mexico. But that growth
comes at a cost-infrastructure investments
in the Permian are necessary to unlock
the region's full potential," the report
says. "The booming economy and increased activity in West Texas and Southeast New Mexico has far outstripped the
intended capacity of roads built years
ago when local communities were much
smaller, leading to unsafe conditions and
an increase in motor vehicle accidents
and fatalities."
Although the Permian's abundance
of well-paying jobs attracts people from
across the country and globe, infrastructure investments must keep pace, it
warns. "In addition to roads, the Permian's workforce needs affordable housing,
good public schools, and hospitals staffed
with an adequate number of physicians,
nurses and staff," the report states.
"These are not problems that are solved
overnight, but with sufficient funding
and investments in the right places, the

Permian will be in the best position
possible to succeed."
The report also considers how the opportunities the Permian has created for
families across Texas and New Mexico
include the associated tax revenues that
have benefited public schools and universities. Revenue generated from the region has greatly boosted each state's
GDP; "and the jobs created have given
thousands the opportunity to achieve the
American dream," the analysis says. "Given the importance of this region, now is
the time for us to consider where strategic
investments are necessary to maximize

the benefits of our energy resources while
also minimizing the potential risks of inadequate infrastructure."
The Permian Strategic Partnership describes its mission as strengthening and
improving the quality of life for Permian
Basin residents by partnering with local
leaders to develop and implement strategic
plans that foster superior schools, safer
roads, quality healthcare, affordable housing and a trained workforce. It says
strategic investments can achieve this
goal, benefiting not only residents of the
region, but Americans across Texas and
New Mexico.
❒

Ecopetrol Plans To Drill
100 Permian Basin Wells
HOUSTON-Columbian oil company
Ecopetrol SA plans to have drilled 100
wells in the Permian Basin by the end of
2021, according to published reports.
Reports cite Ecopetrol Chief Executive
Felipe Bayon saying the company, which
drilled 22 wells between November 2019
and June, anticipated drilling another 22
this year. "By the end of next year, we
should have more than 100 wells," Bayon
is quoted. "Ecopetrol has a portfolio that
is largely heavy crudes. This is 40 API
crude, so it is very good in terms of balancing the portfolio."
❒
SEPTEMBER 2020 91
http://www.donsdirectory.com
American Oil and Gas Reporter - September 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - September 2020
