Unrest in Kazakhstan is the latest geopolitical issue to push crude oil prices higher. The OPEC+ alliance member produced 1.7 million barrels per day in November. Many of the issues causing the rise in oil price have pushed the focus of many in the US to seek domestic producers.

When it comes to U.S. oil production there's no region more important than the Permian Basin. The region produces around 40% of all oil in the U.S. and throws in 15% of the country's natural gas for good measure.

Since taking a major hit to production during COVID, the region has been on the upswing, and that is why several stocks in the Permian Basin look like great ways to play the recovery in this historic piece of land encompassing parts of New Mexico and Texas.

Some of the larger oil producers in the region may not be the best way to play the Permian recovery because most of the oil giants are diversified into many of the areas facing political tumult. Here are a few pure Permian plays to look at today.

Allied Energy Group, Inc. (OTCMKTS: AGYP) is a Permian play with a wealth of projects in the region. AGYP's strategy is to acquire and rework proven wells utilizing the newest technology to extract resources previous explorers were unable or at the time found too costly to recover. The strategy has worked extremely well if their first year of operation is any indicator. In 2021, AGYP brought 5 wells online with this strategy.

Heading into 2022, the company may have their first production numbers to report, add to that they are closer to production on a 6th well at the Prometheus site, acquired earlier this year.

With this kind of news in the pipeline potentially for 2022, now may be a good time to start research on AGYP.

Permex Petroleum Corp. (OTCMKTS: OILCF) is another company looking to restimulate proven wells. In December the company began re-entry and recompletion of two saltwater disposal wells in the Company's Clearfork Area in Stonewall County, Texas. These new saltwater disposal wells and associated facilities are expected to handle additional produced water volumes anticipated from the Company's future drilling and re-stimulation programs. The next update is expected this quarter.

Another Permian play with investors interested in upcoming news, MDM Permian, Inc. (OTCMKTS: MDMP), has a Permian basin strategy that is not quite as far along as AGYP's but interesting nonetheless. They are focusing on 2 wells currently, through water fracking these wells are projected to produce 100 BOPD initially with the possibility of 220,000 barrels of production over the life of the well.

A couple other pure Permian plays to keep on your watchlist include Blackstone Mineral, L.P. (Nasdaq: BSM) and Independence Contract Drilling, Inc. (NYSE: ICD).

Investors looking at stocks to benefit from the Permian Basin's recovery in 2022 should start by putting these companies on their watchlist.

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