For a long time, the U.S. has been the largest world economy. As such, it is one of the top consumers of oil and gas products used to sustain her ever-growing demands for energy meant to drive the economy.
According to the American Geosciences Institute, 7.2 billion barrels of petroleum products – averaging to over 19 million barrels per day – were consumed in the country in 2017.
Despite reduced demand in 2020, the U.S. still consumed over 18 million barrels of petroleum and petroleum products daily (source).
According to the US Energy Information Administration, the US has always been a major importer of petroleum and only became a net exporter in 2020 – having exported 8.5 MMb/d and exported 7.8MMb/d of petroleum.
Texas is the country’s top crude oil and natural gas-producing state, which accounted for more than 40% of crude oil production and 26% of natural gas nationally (source).
Here are the 5 largest oil fields in Texas.
1. Eagleville/Eagle Ford Oil and Gas Field
The Eagleville deposit is the biggest oil field in the U.S. located south of San Antonio city. According to EIA, the fields were estimated to have produced over 238 million barrels of oil and over 435 million barrels of natural gas in 2013 (source).
The field lies within fourteen counties like Karnes, Tarrant, and Webb within a geological layer referred to as Eagle Ford. The field has four boundaries – an international border to the west, a border with Maverick and Zavala counties to the north, a boundary with the Cretaceous Sligo reef to the south, and a boundary with the East Texas basin to the East.
2. Spraberry Oil and Gas Field
Also known as the Spraberry Trend, the Spraberry Oil Field is an enormous oil field located within the Permian basin in the western part of Texas. It traverses six counties (including Martin, Irion, Upton, Reagan, Midland, and Glasscock) covering a total area that measures over 2500 square miles.
It is named after Abner Spraberry, a farmer from Dawson county who owned the land where the first well was discovered in 1943. By 2007, the area was ranked third in total identified reserves (with over 10 billion barrels) and seventh in total oil production. The entire field lies on a large sedimentary unit consisting of siltstone, mudstone, sandstone, and silicate.
3. Briscoe Ranch Oil and Gas Field
The Briscoe Ranch oil field is considered part of the Eagle Ford oil field because they lie on the same fault. However, in terms of oil and gas exploration, the ranch was ranked the fifth-largest oil field in the country and the third-largest in Texas after Eagle Ford and Spraberry.
Regarding gas production, Briscoe was ranked thirteenth just behind Eagle Ford. It is located in Dimmit County and comprises twenty-three wells onsite. The fields have produced over 586000 BBLs of oil and over 2293488 BBLs of gas. The most recent production amounted to 1716 BBLs of oil and over 7194 BBLs as of December 2020.
4. Wasson Oil and Gas Field
Wasson field is an oil and gas producing area that covers over 62000 acres The area is triangular and borders Yoakum to the southwest and Gaines to the northwest. The area attracted oil prospectors from as early as the 1920s. The field produced over 1.8 billion barrels from over 2000 wells in 1939.
As of 2013, the reserves contained over 125 million barrels of oil and remain one of the top reserves in Texas. The Wasson basin lies on two major axes – one moving sixty degrees and the other thirty degrees. The well’s prime production lasted between 1937 and 1949 and currently only recoverable oil is mined.
5. Sugarkane Oil and Gas Field
Sugarkane is an oil field that traverses the Karnes, Live Oak, and Dewitt counties in Texas. It is designated as the area where Eagle Ford and Austin Chalk grade together. The area was initially used to drill dirty Austin chalk.
However, as of 2006, new drilling technology-enabled companies to drill into Eagle Ford turning sugarkane into a profitable liquid cut field. The main operators within the field include Texas Crude Energy, Conoco Phillips, and Hillcorp. Currently, the fields produce 23000 barrels of oils per day and 286000 cubic meters of gas per day.
Conclusion
Texas is undoubtedly one of the United States’ top oil and gas producing states. Most of the oil and gas fields ranked highly in the country are enlisted amongst the top one hundred nationally. Many oil and gas exploration and production companies have understood the potential of Texas as an oil and gas producing state and continue to perform exploration to date. With the right investments, Texas can continue to be the United States' top oil and gas producing state as well as a significant player in the global market.