The Permian Basin has for quite some time been an integral location in U.S. oil and gas exploration and production, and after a peak in 2014 where we saw oil at prices over one-hundred dollars per barrel a massive downturn occurred - greatly affecting the economies of cities like Milan and Odessa who both rely heavily on the oil and gas industry to grow and thrive.
A recent increase in activity is occurring in the basin, with the Permian now being the field with the most rigs in the U.S. - leading many to believe another boom is either inevitable or already happening.
Steve Pruett, President & Chief Executive Officer of Elevation Resources, a Midland-based oil exploration and production company is our guest via telephone for this edition of West Texas Talk.
Mr. Pruett has north of 30 years of oil and gas operating, financial and management experience, most of which has been in the Permian Basin.
