Tech: Permian Basin oil impact more than $137 billion

September 4, 2014
Midland Reporter-Telegram

It’s not a secret that the oil and gas industry has an impact on Midland County and the Permian Basin. But on Thursday, Texas Tech University released a study which attached figures to that impact.

-- A $42 billion economic impact in Midland County.

-- $137 billion in economic output generated in the 46 counties of the Permian Basin in 2012.

-- More than 546,000 jobs sustained in the Permian Basin.

-- The largest rig count of any region in the world (469 as of Dec. 27, 2013)

In a report full of “off-the-chart” statistics on the 2013 impact of oil and gas inside the oil patch, Texas Tech professors, researchers and contributors noted not only the oil and gas industry’s dominance, but the opportunity for sustainable growth for the region and a more stable economy than has been experienced in the past, as well.

Follow the link below to read the full article.