Permian Basin Supports 940,000 Jobs, Projected to Hit 1.16 Million by 2050
According to World Oil, the Permian Strategic Partnership (PSP) has released its 2025 Annual Report and accompanying Power of the Permian economic impact study, showing the basin supports more than 940,000 U.S. jobs and accounts for more than 44% of active drilling rigs operating in the country. The basin contributed an estimated $114 billion to the U.S. balance of trade in 2025 and is projected to generate approximately $366 billion in gross product impact by 2050, with employment growing to roughly 1.16 million jobs by that date.
What It Means for Subcontractors
- The Permian’s rig concentration, more than 44% of all active U.S. rigs, means field service companies without basin exposure are sitting out the largest single market in domestic onshore drilling.
- Projected growth to 1.16 million jobs and nearly half of U.S. oil production by 2027 points to sustained, long-term labor and equipment demand, giving subcontractors a stronger case for capital investment tied to West Texas and southeast New Mexico operations.
- The PSP’s $215 million in regional community investment across 22 counties signals an improving infrastructure and workforce environment, which can reduce operational friction for contractors working in the basin.
