Carlsbad Current-Argus (Dec. 5, 2021) –  As global energy companies target the oil-rich Permian Basin in southeast New Mexico and West Texas for future growth in their extraction operations, a recent study showed smaller, independent producers lead growth in the region over the last few years amid a boom in fossil fuel development.

While major energy producers like ExxonMobil and Chevron tend to long-term target extraction projects throughout the world, independents typically focus on driving faster profits from specific oil-producing areas like the Permian and smaller operations. Independents tend to only focus on one sector of the oil and gas supply chain, such as exploration and production, while the majors fully integrate to include production, processing, refining or distribution.

The Institute for Energy Economics and Financial Analysis reported in a recent study that independent oil and gas producers were leading the Permian in production even as larger companies seek to grow operations in the region.

Smaller, Independent Oil & Gas Producers Leading Permian Growth