Crude oil production in Texas has grown from 25% of U.S. oil production to 35%. Production in the Permian Basin has been the driving factor behind this substantial increase.
North Dakota’s Bakken Shale area is also a major producer in U.S. oil production with a 12% share overall.
The following chart is from the U.S. Energy Information Administration and shows how 5 states – Texas, North Dakota, California, Alaska, and Oklahoma – and the Gulf of Mexico produce more than 80% of U.S. crude oil.
Investing in energy can provide decades of passive income and strong ROI potential. With oil consistently near or above $80 per barrel over the past four years, direct participation in oil and gas is a great way for partners to potentially benefit from returns that outpace most market-based investments. But there’s more to the story than the price of oil. Improved technology and the shift to developmental, infield drilling in both proven conventional fields and unconventional shale have changed the dynamics and lowered the risk of investing. The combination of high-energy prices and improved success rates sets the stage for strong investment performance.
If you’d like to learn more about investing in energy, give us a call or request more info here.