Texas to play significant role in future U.S. crude oil growth

Texas to play significant role in future U.S. crude oil growth

Karen Boman at the Rigzone.com reports that Texas has a prominent role in the growth of U.S. crude oil production, allowing the country to become more independent of some the world’s largest producers. 

“The investment by the oil and gas industry in hydraulic fracturing and other technology, has allowed producers to unlock oil and gas reserves from fields thought to be played out in the Permian Basin and Texas Panhandle as well as new plays such as the Eagle Ford[. …]

“Thanks to this technological innovation, U.S. oil production, which is currently at 6 MMbopd, is expected to reach 9 MMbopd of crude and 11.5 MMbopd of liquids by 2015, the same level seen in 1971, [Texas Railroad Commissioner Barry] Smitherman said.”

Via InstaPundit



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