Texas Permian Basin producing record amounts of oil

 Reuters:

Crude oil production from the Permian Basin, the largest U.S. oil field, is set to surpass its pre-pandemic record in December, a swift turnaround that has not been replicated in the country's other oil regions.

Oil output from the Permian, located in Texas and New Mexico, is forecast to reach a record 4.953 million barrels per day (bpd) in December, as output has come back with the surge in economic demand.

The Permian is the primary driver of U.S. output, but its percentage of U.S. overall production is even more than at the end of 2019, when the United States was producing 13 million barrels a day.

December's forecast production will surpass the previous record of 4.913 million bpd set in March 2020, according to a monthly forecast from the U.S. Energy Information Administration.
...

"Permian Basin wells tend to be the most prolific wells compared to other basins, so if you have more limited capital, you would go there first," said Andrew Lipow, president of consultancy Lipow and Associates in Houston.

The Permian's importance is augmented by its proximity to major pipeline hubs and connections to export centers, making it more advantaged than other basins.
...

I suspect that most of the new production is coming from Texas and not New Mexico where the federal government is restricting new drilling since it controls the sites there.  Biden has been restricting drilling on federally controlled sites across the country and offshore.  That is one of the reasons the prices are so high at the pump.  Biden is also restricting pipelines in parts of the country driving up the cost of getting oil and gas to market.

When Texas came into the union it offered the land in West Texas to the US in return for them assuming the Republic of Texas debt of about a million dollars.  The US turned down that deal and Texas has been a beneficiary ever since oil was discovered there.

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