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December 8, 2021updated 27 Apr 2022 12:21pm

Permian Basin Unconventional (Sinochem Corporation) TX Unconventional Oil Field, US

By Carmen

Permian Basin Unconventional (Sinochem Corporation) TX is a producing unconventional oil field located onshore the US and is operated by Sinochem Group.

Field participation details

The field is owned by Sinochem.


Production from Permian Basin Unconventional (Sinochem Corporation) TX

The Permian Basin Unconventional (Sinochem Corporation) TX unconventional oil field recovered 33.22% of its total recoverable reserves, with peak production in 2021. The peak production was approximately 34.32 thousand bpd of crude oil and condensate and 126 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2045.


Remaining recoverable reserves

The field is expected to recover 220.48 Mmboe, comprised of 136.82 Mmbbl of crude oil & condensate and 501.93 bcf of natural gas reserves. Permian Basin Unconventional (Sinochem Corporation) TX unconventional oil field reserves accounts 0.27% of total remaining reserves of producing unconventional oil fields globally.


About Sinochem Group

Sinochem Group Co Ltd (Sinochem) is a diversified holding company that carries out operations in energy, agriculture, chemicals, real estate, and finance services sectors. It is a government enterprise under the supervision of State-Owned Assets Supervision and Administration Commission of the State Council of China. The company carries out the exploration and production of oil and gas, oil refining and trading, storage and logistics, distribution and retail. It also involves in financial leasing, life insurance, and securities investment and fund management business. Sinochem also carries out development, sales, leasing and management of high-end commercial properties. The company has operations in various countries across Asia-Pacific, Europe, Africa, North America and South America. Sinochem is headquartered in Beijing, China.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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