Meta Materials Inc (MMAT)

[risingup58]

Yes looking good for who this company is, where they are drilling in the eyes of investors. They made it through the downward spiral of oil prices and are still here producing and drilling for oil in the Permian basin with oil prices slowly climbing again.

Former Texas Gov. Rick Perry to be Secretary of Energy chosen by the President elect Trump could help boost the state Texas on the map as one of the largest producing oilfield in the world next to Saudi Arabia's Ghawar field.



http://www.fool.com/investing/2016/07/16/the-5-companies-dominating-the-permian-basin.aspx

Permian Basin 101
The Permian Basin encompasses an area that stretches 250 miles wide and 300 miles long. However, it can be split into two zones, the Delaware Basin on the west and the Midland Basin to the east. Hydrocarbon-rich layers of rocks lie beneath both sections:

Permian Basin

SOURCE: EIA. H

According to the U.S. Energy Information Administration (EIA), the six formations detailed on the above map fueled a 60% increase in the Permian's output since 2007. That increase pushed it past the Gulf of Mexico as America's leading oil production basin in 2013. Currently, the Permian accounts for about a quarter of the country's oil production.

With output totaling more than 2 million barrels per day, the Permian is the second largest oil field in the world behind Saudi Arabia's Ghawar field. That said, it has quite a way to go to catch up given that Ghawar produces 5 million barrels per day, which is more than 5% of global oil output.