Based in Grapevine, Texas, Texas Energy Mutual (TEM) has more than 150 years of combined oil and gas sector experience, and pursues well drilling opportunities throughout Oklahoma. Texas Energy Mutual plays a vital role in helping American workers reap benefits from an ongoing domestic oil boom. With nearly two million jobs created in the exploration, drilling, and transportation sectors over the past several years, many expect the number to cross the three million threshold by the end of the decade.
One area of particular activity is in major state-owned energy firms such as Sinochem Group purchasing stakes in U.S. companies as a way of securing sufficient natural resources to drive the Chinese manufacturing sector. Major winners in this scenario extend beyond oil and gas companies, and include pipeline equipment manufacturers and railroads. In 2011 alone, the volume of petroleum and crude oil products being transported by rail increased by nearly 50 percent. This was a direct result of the United States becoming a net energy exporter for the first time in more than half a century. TEM is uniquely poised to capitalize on this major market opportunity.