Breitling Oil and Gas Texas Morning Podcast #282

Here are some cool facts I dug up about the Texas oil and gas industry

  1. Texas today produces roughly 30% of all oil and gas
  2. 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.
  3. natural gas production has tripled in Texas between 2009 and 2012.
  4. Shale oil production also ramped up very rapidly in those years, with the Eagle Ford Shale and various shale plays in the Permian Basin
  5. 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.
  6. However, I also speculate that the new Cline Shale formation in West Texas may well contain more oil than the Eagle Ford – lucky us!

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