The US, over the past decade, has positioned itself at the top of the global crude oil production chain, dethroning Saudi Arabia and Russia. The oil output from the US has doubled during the period and it is playing a key role in influencing the global energy landscape. Out of all the oil produced in the US, 90 percent comes from eight states alone. Investing in oil and gas projects in these states, therefore, can be a promising investment vehicle capable of delivering great returns and tax benefits. While a reputable energy investment company such as Fig Tree Capital Ventures can help you find lucrative energy investment opportunities in North Dakota, Texas and other parts of the US, it is wise to stay informed about the country’s energy landscape. Continuing on the subject, we present the top four producers of oil and gas in the US.
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- Texas
Texas has been the center of US oil production from a long time now. Unlike other states such as New Mexico, Oklahoma and Alaska that saw a recent surge in oil refineries, Texas was known to be a consistent top producer of oil. It has 27 operable refineries and is said to produce nearly 36% of the total output in the US. If Texas were to be a standalone nation, it would rank sixth in terms of oil production. Several studies have revealed that Texas holds one-third of the US oil reserves.
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North Dakota
North Dakota is a part of the states that saw a sudden boom in oil production and refining. It is estimated that North Dakota saw a 1000% increase in terms of oil production between 2003 and 2015. With 5.7 billion barrels of proven reserves, North Dakota and Texas together amount to half of the oil produced in the US. One can find several energy investment opportunities surfacing in North Dakota because of the ongoing boom in oil production.
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California
California is said to be the third largest producer of oil, ranking behind Texas and North Dakota. Because of strict state environment and federal regulations, the refineries here are configured to produce cleaner fuel while operating at maximum capacity. It is revealed that this state has nearly 2.9 billion barrels in reserve and despite a decline in production levels, California still holds it ground and produces nearly one tenth of the oil consumed in the US.
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Oklahoma
This state has seen a two-fold increase in the production of crude oil since 2005 and is steadily racing towards being one of the top producers of oil in the US. Interestingly, Oklahoma is at the intersection of many large national pipelines giving it a strategic advantage as well. Cushing, a city in Oklahoma, hosts the world’s largest oil storage facility where the West Texas Intermediate (WTI) issues more than 900,000 oil futures and options contracts every day.
- Texas
Wrap Up
If you’re a high networth investor looking to diversify your investments, look no further than energy projects. Oil and gas is a reliable investment option that can help you make handsome returns while enjoying great tax breaks. If you are looking to invest in North Dakota energy projects and are on the look-out for reliable oil and gas investment services, Fig Tree Capital Ventures is here to help. To learn more about potential oil and gas investment opportunities in North Dakota, fill out our contact form or simply call +1-866-304-9194.
