The Permian Basin's future is prosperous and bright, according to the Permian Strategic Partnership. : That’s what the Permian Strategic Partnership (PSP) stated in its latest report, which was posted on the organization’s website on Thursday. According to the PSP, the region contains more than 92.3 billion barrels of oil, which it noted is about 38 times the proven reserves of Alaska, and nearly 300 trillion cubic feet of natural gas, which it said is enough to meet U.S. household demand for 60 years.