The Permian Basin continues to be a powerhouse. With the Basin dating back to 1923, it has a long history, and holds stories from some of the first wildcatters. News that the Permian Basin has now become the World’s top oil producer even surpassing the Saudi Ghawar oilfield, has not surprised drillers, and it shows no signs of slowing down.
Forecasters are predicting that the production in the Basin will triple in the next four years. This growth was expected and due to developers recognizing the potential and planning ahead by investing in the Permian’s infrastructure, they are ahead of the game. The building of new pipelines is the main reason for the success of the growth in the area. Pipelines are the most efficient and safest way to transport energy products. To give you an idea of the transportation capacity that the pipelines can handle, forecasters are saying that they expect the capacity in the region to go from 3 million barrels per day to 9 million per day by 2021.
Federal Energy Regulatory Commission have given their permission to start the construction of the export terminal called the Calcasieu Pass LNG in Louisiana. The construction of the new terminal will bring even more jobs, development, and the security of energy dominance nationwide.
At Spear Industrial, we have worked right along beside you in the Permian Basin. We understand the growth and commitment that all of you have to the region. We continue to grow with you, and want to help you protect your investment. Safety is our number one priority, and our products and services are designed to prevent corrosion, and we help you avoid costly steel repair or replacement. We are leaders in the development of industrial coatings for storage tanks and vessels, structural steel, and industrial equipment. Visit our website today at www.spearindustrial.com, and see how we can help you today.