People around the world need energy, and Texas supplies a lot of it. Between the ubiquitous oilfield equipment and its long history of being in the business, few places in the world know oil like the Lone Star State. Here are a few things you might not have known about the exciting and unprecedented goings-on in the drilling business.
George Mitchell changed the game: His innovations in fracking changed not only the oil business, but the United States economy as a whole. He passed away this year at the age of 94, but his brilliance will outlive him.
Texas is a player on a world scale: By next year, the state is projected to leapfrog some of the world's biggest names in oil production, including Venezuela, Mexico, Kuwait and Iraq. It will be the ninth largest producer on the entire planet, creating well over half a million new jobs since the start of the most recent boom.
The influence stretches even farther: If you happen to be in outer space tonight, take a peek down. NASA Satellite images have shown gas flares are visible from orbit, sparkling along the Eagle Ford Shale, an oil and gas rich geological formation in South Texas.
Oil is transforming communities locally: Cotulla was once a tiny town, deeply mired in poverty. Once the boom started, well drilling equipment was moved in, and the improvement was stark. From 2008 to 2012 sales tax receipts multiplied nearly eightfold, and the property tax base jumped from $52 million to $137 million. All the new revenue has transformed the town, allowing it to build new roads and sports facilities.
In Texas, the current oil boom has put a new spin on a familiar institution. Implementing new technologies, such as the hydraulic jet pump, can help well operators keep the good times going, in Texas and throughout the United States.
This solution has several key advantages over other products. It is highly versatile, and can be deployed in straight, horizontal or deviated wells. It can even be successfully used to initiate or resume production at sites where issues with the completion of well casing would limit the effectiveness of other artificial lift solutions. Furthermore, with no downhole moving parts, the unit has minimal maintenance needs.
Well operators interested in upgrading their pumps should contact an oilfield equipment provider.