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.