Talking Energy: Bubba Saulsbury on the future of the Permian Basin

MIDLAND, Tx. (KOSA) -- This week the Hart Energy Midstream Conference was held at the Midland County Horseshoe Arena.

Top analysts and producers took park in the conference where they shared ideas for the ongoing work in the energy market.

CBS7 sat down with one of the speakers at the conference, Bubba Saulsbury, to talk about the future of the Permian Basin.

"The Permian's really the field that's leading us to energy independence in the United States," said Saulsbury.

Saulsbury says that things are going strong and that he expects for it to remain that way.

"People continue to refine technology and things are continuing to change. The wells are being bigger, the infrastructure is getting bigger and as we continue to learn more and more we'll just get better and better," Saulsbury said.

More pipelines are being built to help get crude and natural gas to the refineries. Those pipelines should be coming online soon to help out.

"I think there's over 13 pipelines being built from the Permian down to the coast. Those are natural gas pipelines, natural gas liquids and crude pipelines," said Saulsbury, "I think most of them are scheduled to come online (by) the end of this year or the first or second quarter of next year."

Oil prices have been up and down lately, falling below $55 a barrel. We asked Saulsbury about the price changes and if there are concerns about the future.

"We're producing about three million barrels and there was a discussion about doubling that to six million barrels over the next ten years. A year and a half later we're at four million barrels and they're talking about doubling that in less than five years."