In the next 5-10 years, Texas oilfield services companies may very well change dynamics and politics of oil and gas.
Nearly 30% of U.S. oil rigs are drilling in Texas – May 2013.
Thousands of small and mid-sized oilfield services companies are growing because of the oil and gas boom currently taking place in Texas. Oilfield drilling companies, oilfield services and supply companies, material suppliers, caterers, land clearing companies, trucking and logistics companies are all finding their place in the Eagle Ford Shale, Cline Shale, Barnett Shale, Woodforest Shale, and Haynesville-Boosier Shale plays.
In 2013 $61 billion in economic activity occured in the Eagle Ford Shale Play alone. Experts are cautiously predicting that the Cline Shale area may be 3-4 times the size of the Eagle Ford Shale.
In late May 2013, Sam Thacker wrote a column for AllBusiness.com titled Texas Oil and Gas: Changing the U.S. and State Economy. It is a great summary of what is happening in the Texas oilfield. Remember our company finances 2nd and third teir oilfield services companies. We use multiple types of financing to help us help oilfield services companies.
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Great article Sam — very excited about the small and mid-sized oilfield services companies taking off… especially interested to see more young folks step up to the plate and fill the ‘generation gap’ in the industry… thanks for sharing the article!
– Greg