It’s a good news for oil and gas investors,
US oil production is on the rise expecting to exceed imports later in 2013. The bulk of the rise in production is coming from drillers in North Dakota and Texas mentions OGJ (Oil and Gas Journal). “Texas, for example, which has permitted more wells than any other state, has more real knowledge about the geology, hydrology, and impacts of oil and gas development than the federal government will ever gain” mentions Dan Kish (Senior VP of the Institute for Energy Research in Washington) in an interview with Forbes, Larry Bell.
Drilling has become more attractive for the independent investors who choose to endeavor into drilling ventures with companies. Independent drillers like these in Texas seem to have not only the experience but also the connections, resources and ability to get the black gold to the bank within their own state. The future is looking bright for drilling in Texas, North Dakota and other regions of the US as more pressure is put on the already low reserves at this time. So it might be time to adjust your investment strategy to incorporate independent drillers in states like Texas.