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Thursday, August 28, 2014 4:10:23 PM
The U.S. oil and gas exploration and production industry includes approximately 5,000 companies with combined revenue of $290 billion.1 Throughout Texas, crude oil and natural gas is produced in 239 of 254 counties, employing around 281,900 people in oil and gas exploration, production, refining, and related industries. Businesses involved with the Texas oil and gas industry account for around $115 billion annually, contributing a substantial part of the state’s trillion-dollar economy. Texas leads the nation in the crude oil and natural gas production – at around one-third of total U.S. production. On average, Texas produces nearly one million barrels of oil a day, and natural gas production annually is more than 7 trillion cubic feet.
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