Permian Basin has a new exploration company

In Search of decreasing the competition in the oil market, Chevron announced that it will buy one of the pioneer companies in oil exploration in the Permian Basin, west of Texas, Anadarko Petroleum. The production will be shale oil and natural gas (LNG), with expected commercialization of US $33 billion.

The largest acquisition of industry in the branch will make the American company Chevron, which already owns 2.3 million acres about to be drilled, extend the space to more 120 kilometers.

This purchase makes the company the second largest in the industry, behind ExxonMobil working to triple its oil and natural gas production in this Permian Basin also west of Texas and New Mexico up to 2025 and investing $2 billion in the region Expanding the oil storage terminal.

The discovery of the region has made the United States one of the world’s largest producers, producing 4 million barrels per day.

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