Railroad Commissioner Sitton Talks Opportunity in the Permian Basin
HOUSTON, TX Railroad Commissioner Ryan Sitton spoke with students, operators and technology experts who gathered for the 2017 Technology Forum hosted by the Texas Oil & Gas Institute. The Institute - a non-profit formed by University of Texas and Texas A&M University - is focused on improving the value of university lands through education, engineering and research.
The Technology Forum encouraged technical discussions on increasing production and growing reserves as well as best practices and lessons learned. During his keynote address, Commissioner Sitton discussed the Permian Basin's remarkable opportunity and tremendous level of investment.
"Right now, 40 percent of all U.S. rigs are located in the Permian Basin," Sitton said. "At a time when we're seeing oil prices begin to rise, Texas production reaching record highs and historic new investments in the Permian, TOGI collaborators are going to play an important role in that basin."