To understand the player’s positions, we have to understand the Permian itself. The basin is split up into two major zones, the Delaware Basin on the west and the Midland Basin to the East. Players occupy acreage in these two regions.

Now that we know that, let’s take a look at the three major oil companies making a killing in the Permian in 2017.

Occidental Petroleum

Occidental held 2.5 million net acres in the Permian at the end of 2015, with most resources concentrated at Wolfcamp A and Bone Springs in the Delaware Basin. They hold nearly 500,000 more acres than the closest competition and account for 13 percent of total oil produced in the area.

Chevron

Chevron holds two million acres in the Permian, which they believe holds 9 billion barrels of oil reserves. They produce 96,000 barrels of oil per day thanks to their expanses of land in the region.

Apache

Apache holds 1.75 million acres in the Permian, and just discovered a new layer called the Alpine High in the southern portion of the Delaware Basin. They believe this section could hold 3 billion barrels of oil.

There’s a variety of other players, however, these three have a pretty strong hold on the Permian, and will for years to come.

ABOUT THE AUTHOR THOMAS KUEGLER

I am a full-time journalist, travel blogger, and digital nomad currently traveling the United States. I'm a regular contributor at The Huffington Post, and my work has also been featured on sites like The Inquisitr and The Odyssey Online. Some of my hobbies include cooking, reading, and having uncontrollable fits of excitement whenever I see dogs. I have a Bachelor's Degree in Marketing from Messiah College, and in the future I want to backpack Europe by myself, meeting amazing and wonderful people around every corner.