The Permian Basin is a large sedimentary basin located in western Texas and southeastern New Mexico. It is known for its rich deposits of oil and natural gas, making it one of the most productive oil fields in the United States. The basin formed over 250 million years ago during the Permian Period, which is where it gets its name. The Permian Basin covers an area of approximately 75,000 square miles and consists of several geological formations. It has been a significant contributor to the U.S. energy supply, especially during the shale boom in the 2010s, leading to increased drilling and production activities in the region.