The frenzied Permania that had oil and gas companies rushing to the O&G hotspot may be on the outs, but production in the industry’s number one basin has not, according to the US Energy Information Administration’s Drilling Productivity Report released on Monday. Oil production in the Permian basin is set to hit a brand-new record next month, the EIA said, expecting a 55,000 barrel per day increase month on month, reaching 4.226 million barrels per day. The Niobrara and Bakken basins are also set for an increase in July, of 10,000 and 11,000 barrels per day, respectively. The Permian accounts for nearly half of the production of the top seven basins, and is nearly three times as prolific as the next most prolific basin, The Bakken . For the seven major basins that the EIA tracks in its monthly Drilling Productivity Report, July’s production is set to increase by […]