Permian Basin Economic Indicators

The Permian Basin oil region is the 2nd largest oil and gas shale producer in the world. In fact, outside of Houston, no other area in the US plays a more important role in the nation’s energy industry than the Permian Basin. Midland’s economy is heavily influenced by the oil and gas industry, an industry that has continued to grow as technology has made it possible for U.S. companies to remain competitive at home and abroad. 


Permian Basin MSA Economic Index July 2022

Industry

June 2022 July 2022

% Change

Energy 104.0 99.2 -4.7
Construction 198.3 173.5 -24.8
Manufacturing 93.3 93.9 +0.6
Retail 124.6 124.7 +0.1
Financial Services 119.3

120.9

+1.6
Real Estate 147.3 155.6 +8.3
Professional & Business Services 105.6 106.1 +0.5
Health Care 96.1 96.3 +0.2
Hospitality & Tourism 144.4 145.4 +0.9
Other Activity 114.6 113.5 -1.1
Permian Basin Composite 109.9 106.1 -3.8

Note: Industries are not weighted equally in calculating the Industry Composite; see the Appendix for further explanation. The Permian Basin Region includes Andrews, Borden, Crane, Dawson, Ector, Gaines, Glasscock, Howard, Loving, Martin, Midland, Pecos, Reeves, Terrell, Upton, Ward, and Winkler counties.
Source: The Perryman Group

Read the full report here