Biggest Oil Rigs in Texas
Posted in Oil Refinery Law on July 21, 2016
Oil production in Texas has more than doubled since January 1999, when the state produced over 39 million barrels. As of August 2015, 106 million barrels were produced from over 176,000 oil wells across the state of Texas, marking the highest year oil production in the history of the United States. Texas continues to make a sizable contribution to oil production in the country and is expected to continue to produce millions of barrels every year.
The impact of Texas Oil Rigs
The increase in oil production in Texas has had an effect in lowering the U.S. foreign imports on petroleum. Oil surges have also benefited the economy by increasing employment rates, average incomes and home sales. Texas’ recent oil increase has driven production levels of oil higher than production in Saudi Arabia.
Biggest Texas Oil Rigs
Houston is the largest city in Texas and the fourth largest city in the U.S. It headquarters several large oil and gas companies and continues to develop more. There are an estimated 150,000 extraction and field services jobs available in Houston and it is the energy capital of the world.
Since the oil boom, Austin has attracted 300 companies in the fields of oil investment, surveying, drilling technology and production. The University of Texas at Austin houses oil drilling research facilities and the petroleum and geosystems engineering department has provided the educational basis for companies to be further equipped with the latest technologies upon entering the field.
Dallas is the headquarters for Energy Transfer Equity, which made an estimated $48 billion in 2013. The HollyFrontier Corporation is also located in Dallas, which made $20 billion in 2013. The oil industry has helped Dallas move away from the cotton and rail industries.
- San Antonio:
San Antonio is the second most populated city in Texas and is home to the South Texas Oilfield Expo and a host of oil companies including Valero Energy Corporation, which had an estimated revenue of $137 billion in 2013.