But in the last 6 months there have been truly epic discoveries across the previously unfavored Delaware segment of the the West Permian field, which suggest that the ultimate capacity of the field may indeed be huge.At the center of excitement is the Wolfcamp “play”.
Fracking has affected the local economy and environment in many places across the US, but what I did not realize until I started digging, was that fracking as a macroscopic changing the world, is a story of one region in the US, the West Permian shale oil and gas basin in West Texas.
West Permian is one of the classic regions of US oil production.
It then lapsed into prolonged stagnation as global oil prices in real terms slumped.
But the combination of the oil price surge to 2014 and the advent of new horizontal drilling and fracking technologies has again transformed the region.
https://seekingalpha.com/article/4037765-exxon-immune-permian-fever With Tillerson moving from EXXON to state, the EXXON investment in low-cost, flexible, domestic US production as opposed to the high-cost, long-term investments in which Tillerson specialized is seen my some in industry as a paradigm shift.