Permian Basin Gets Vote Of Confidence With Infrastructure Plan

The region at the heart of the once-booming U.S. shale industry is signaling confidence in a nascent recovery after the pandemic crushed demand and curtailed oil and gas drilling. The Permian Basin, which straddles West Texas and New Mexico, has grown over the past decade to produce more oil than Iraq. But it has struggled to cope with some of the effects of its expansion over the past decade: roads crumbling from a heavy volume of 18-wheelers, a lack of doctors and skyrocketing house prices and rents. A coalition of energy companies, along with state and local partners, plans to spend $844 million on roads, education, workforce development, housing, broadband and health care in the region, according to the Permian Strategic Partnership, which assembled the group. The Texas Department of Transportation is providing the most of the funds, while companies including Chevron Corp. and Halliburton Co. are also kicking in.

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Source: Midland Reporter Telegram