The Permian basin has at least 25 years before its oil reserves begin to decline, predicts one of the pioneers of shale mining in this key region of the United States.

So pleasant news told the day before the agency Bloomberg. This is reported by "Economy from the Prophet".

The pool that brought the United States to the leaders of the world oil production is so rich in raw materials that extractive companies using the latest drilling and fracturing technologies will make a profit even if the oil barrel drops to around $ 25, chairman of the board of directors of Pioneer Natural Resources said in Washington on Monday. Co. Scott Sheffield.

Although the price of oil in New York fell by 19 percent to around $ 43 from the beginning of the year, the region covering the states of West Texas and New Mexico will continue to inspire mining companies to drill new wells, as production costs are very low, Sheffield said. At the annual conference of the US Energy Information Administration. Production in the Perm basin today is competing with world heavyweights like Saudi Arabia, he said..

"We have the lowest-cost oil fields in the world," Sheffield said.. - Up to the peak of the Perm basin, more than 25 years ".

The output in the Perm basin, estimated at an average of 2.46 million barrels per day this month, roughly the same as in Mexico, could reach 5-10 million in the next 10 years, depending on the forecasts of various oil companies.

Sheffield expects production in the basin at the upper end of the range; His rival Vicki Kholub from Occidental Petroleum Corp. Gives a more conservative estimate. Any of these levels will surpass the production capacity of each of the OPEC members, except Saudi Arabia.

*** Permian basin contains large explored and potential reserves of natural gas and is one of the main gas producing regions of the USA. It covers the territories of West Texas and southeastern New Mexico.