Oklahoma Petroleum Reserves

Oklahoma Petroleum Reserves pic

Oklahoma Petroleum Reserves
Image: eia.gov

An oil-and-gas company focusing on projects in Oklahoma and South Texas, Texas Energy Mutual, LLC, relies on state-of-the-art technologies to search out and capitalize on new energy opportunities. Once a Texas Energy Mutual project begins producing, the company sells the petroleum materials to oil refineries and natural gas pipeline firms.

The latest data from the US Energy Information Administration shows that Oklahoma ranks fifth among all states in crude oil production, and that its refining capacity represents about 2.8 percent of the country’s total oil refining output. In terms of natural gas, Oklahoma is a top producer, yielding roughly 8.5 percent of the United States’ marketed gas resources.

Oklahoma is sitting on a wealth of untapped oil and natural gas reserves. Beneath the state, roughly 1.2 billion barrels of oil sit in reserve, more than 3 percent of the United States’ total. The state’s dry natural gas reserves total about 31 billion cubic feet, or more than 8.5 percent of the country’s reserves.

Oklahoma’s best-producing regions are concentrated in the south central and northern portions of the state.

Oklahoma Economy – Oil and Gas

Texas Energy Mutual

Texas Energy Mutual
Image: texasenergymutual.com

Texas Energy Mutual, LLC, an oil-and-gas exploration firm based in Grapevine, Texas, focuses largely on developing new projects in Oklahoma. In fact, Texas Energy Mutual already oversees several actively producing fields in the state.

According to the Oklahoma Department of Commerce, the energy sector, which includes oil-and-gas exploration and extraction, employs more people than any other industry in the state. Its Oklahoma workforce numbers nearly 200,000, and it’s expected to add about 30,000 jobs to the economy within the next year. Oklahoma is second only to Texas in oil-and-gas workers and revenues, which provide an essential tax base for the state.

Oil-and-gas providers alone generate more than $51 billion a year in Oklahoma. That number will likely increase as technologies come online, making it easier for firms to discover new petroleum resources and capitalize on them The state’s energy infrastructure includes petroleum refineries that together generate half a million barrels daily – 3 percent of the whole country’s production capabilities.

Oil on a Significant Upward Swing in Early 2016

Texas Energy Mutual pic

Texas Energy Mutual
Image: texasenergymutual.com

Texas Energy Mutual, LLC, headquartered in Grapevine, Texas, maintains a prominent role in the oil and gas industry. Among the company’s current projects is a five-well exploration and drilling program centered in Okfuskee and Creek Counties in Oklahoma. Dedicated to maximizing investor returns, Texas Energy Mutual, LLC, maintains a strong focus on current trends in the energy sector.

As reported in the Wall Street Journal in March 2016, a number of hedge funds have turned bullish on oil. The growing opinion among financial managers was that a global crude oil oversupply dynamic was turning the corner. At the time of the Wall Street Journal article, the price of oil hovered just under $35 a barrel, and it was expected to stabilize at around $40.

By late May, this prediction had borne fruit, with the global Brent benchmark trading at over $48 a barrel on the New York Mercantile Exchange. This sharp rise reflected a surge in oil futures related to supply issues in Canada and Africa, coupled with US production declines.

Freeing Child Soldiers in Africa

Children, Not Soldiers Campaign pic

Children, Not Soldiers Campaign
Image: childrenandarmedconflict.un.org

With over 150 years of combined experience in the energy industry among its personnel, Texas Energy Mutual, LLC, enjoys considerable success through its extensive research and innovation. This success enables Texas Energy Mutual to support an array of charitable causes, including Invisible Children, which seeks to end the forced recruitment of child soldiers in central Africa.

The United Nations likewise targets this atrocity with the Children, Not Soldiers campaign. Awareness of the issue developed following a special report to the UN in 1996 by Graça Machel, entitled “Impact of Armed Conflict on Children.” In the subsequent years, the UN passed multiple resolutions to research, create awareness of, and end this practice. One such resolution culminated in Children, Not Soldiers, which launched in 2014. The result was eight countries signing a UN Action Plan to end the recruitment of children within their borders. A Special Representative to the UN provides an update to the Security Council and General Assembly on a yearly basis.

The Salvation Army Responds to East Texas Flooding

 

Salvation Army Image: en.wikipedia.org

Salvation Army
Image: en.wikipedia.org

A Grapevine, Texas-based oil and gas company, Texas Energy Mutual, LLC, boasts a history of successful exploration and development projects in both Texas and Oklahoma. The company’s interests also extend to its community, so Texas Energy Mutual contributes to the Salvation Army. This organization has been offering diverse services throughout the world since 1852, including disaster relief.

After dramatic flooding killed at least six people in east Texas in late April/early May 2016, local divisions of the Salvation Army responded quickly. The region also experienced multiple tornadoes during the same period.

The group is equipped to offer supplies, emotional and spiritual care, disaster-related social services, access to their expansive emergency radio network, and long-term recovery strategies during and after events like these. Following the Texas disaster, the Salvation Army teamed up with NFL running back Adrian Peterson to distribute $100,000 in his hometown of Palestine, Texas. The group also set up a dedicated website for flood and tornado relief donations: donate.salvationarmyusa.org/texas/texas-dhq/disaster/texas-flood-tornado-relief. The Salvation Army commits 100 percent of donated funds directly to relief efforts.

Oil Industry Uses Less than Two Percent of Oklahoma’s Water

oil industry

oil industry

Texas Energy Mutual LLC is a Texas-based independent oil and gas company. Texas Energy Mutual LLC has operations throughout Texas and Oklahoma and keeps a careful watch on drought conditions and water consumption in those states.

Adam Wilmoth of the Oklahoman reports that the oil industry uses less than 2 percent of Oklahoma’s water, despite the increased drilling in the state. While this number is projected to grow over the next few decades, some experts predict that the technology will become more efficient, keeping the overall water use relatively low.

Despite using less water than many industries, oil companies are still exploring options for reducing or eliminating water use. Innovations in drilling technologies could have significant impacts on water use. For instance, some Oklahoma energy firms are using a type of recycled water to reduce costs. Known as produced, or fossil, water, the water is a remnant of ancient oceans and contains more salt than seawater. The process has become less expensive and allows energy companies to use less water.

Oil and Natural Gas Production in Oklahoma

Based in Grapevine, Texas Energy Mutual operates oil and natural gas properties throughout Texas and Oklahoma. At present, Texas Energy Mutual dedicates its time to overseeing five-well drilling activities in Oklahoma.

Among the top five oil-producing states, Oklahoma is home to three of the largest oilfields in the United States. Its natural gas reserves are equally impressive. Barclays Capital Inc. released findings indicating the state’s output between July 2014 and July 2015 exceeded that of Wyoming, New Mexico, and Louisiana combined.

As of September 2015, Oklahoma has continued to improve in shale light oil output. As such, many oil and natural gas companies have claimed properties in the Oklahoma Scoop and Stack and Anadarko Basin over the last several years. These operators have significantly boosted the amount of oil production for the state. From 2011 to 2014, Oklahoma’s oil production increased by 74 percent, according to the U.S. Energy Information Administration. And while rigs have declined in 2015, the state remains competitive in output, surpassing its 2011 production of 73 million barrels as of July 2015.