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 December 2023
IndustryNovember 2023December 2023% Change
Financial Services127.5127.3-0.2
Real Estate130.1122.1-8.0
Professional & Business Services117.7116.8-0.9
Health Care107.6108.2+0.6
Hospitality & Tourism144.8145.1+0.3
Other Activity125.0125.0+0.0
Permian Basin Composite104.0102.2-1.8

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

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