Here are some cool facts I dug up about the Texas oil and gas industry
- Texas today produces roughly 30% of all oil and gas
- If Texas were a stand-alone country, it would today rank as the 14th largest oil producing nation and 3rd largest natural gas producing nation on the face of the earth.
- natural gas production has tripled in Texas between 2009 and 2012.
- Shale oil production also ramped up very rapidly in those years, with the Eagle Ford Shale and various shale plays in the Permian Basin
- My projection and models indicate that the Eagle Ford Shale will ultimately surpass the East Texas Field as the largest oil field ever discovered in the US.
- However, I also speculate that the new Cline Shale formation in West Texas may well contain more oil than the Eagle Ford – lucky us!