Spindletop: Where It All Began
Spindletop is a salt dome oil field located in the southern portion of Beaumont, Texas in the United States. The Spindletop dome was derived from the Louann Salt evaporite layer of the Jurassic geologic period. On January 10, 1901, a well at Spindletop struck oil (“came in”), effectively launching the original South Texas Oil Boom. The Spindletop gusher blew for nine days at a rate estimated at 100,000 barrels (16,000 m3) of oil per day.Gulf Oil and Texaco, now part of Chevron Corporation, were formed to develop production at Spindletop.
Request your copy
South Texas Oil Boom:
The Insider’s Guide to Investing in Oil & Gas
One of the most significant advantages for oil and gas investors is the tax benefits available. The United States is motivated to reduce its reliance on foreign oil supplies by increasing domestic production, for political and economic reasons. Since most of the foreign oil supplies we obtain come from an area of the world that is typically unstable, finding different sources can lead to stabilization of the U.S. economy. To encourage additional domestic production, investment is required, and Congress has created a large number of incentives to encourage highly qualified investors to take the risk. The tax advantages from investing in oil and gas are additional to the potential revenue generated by the investment. Certain types of investments, such as direct participation programs, offer the most significant benefits. Learn more.
The prospect for employment in the oil and gas industry will be higher soon, even as experts have predicted no less than 100,000 new jobs in 2018. According to Goldman Sachs, a huge comeback is set to be made in the U.S oil industry. The United States sits on 264...read more
The International Energy Agency has warned that unless the exploration firms embark on new upstream projects, there will be a drop in OPEC’s spare capacity resulting in a sharp rise in oil prices. A recent report from the International Energy Agency has stated that...read more
Over the past one month, the price of oil has dropped by 10%, causing panic among investors, making them wonder if the sudden fall in oil price witnessed between 2014 and 2016 is here again. However, oil company executives have expressed optimism that the future of...read more
The Serpentine Plug and the South Texas Oil Boom Insider insights on the South Texas Oil Boom Not all oil investments are equal. Opportunities for oil wells may be hiding deep beneath the surface, waiting to be discovered. Geological formations can be a tell-tale sign...read more
Wise Gas and Oil Investing Insider insights into the South Texas Oil Boom Any serious investor who is considering the possibility of gas and oil investing should perform the necessary due diligence to protect himself and mitigate risk. This due diligence begins by...read more
Types of Oil & Gas Investments in South Texas Insider insights into the South Texas Oil Boom There are many types of oil & gas investments in South Texas and there is a great deal of work that goes in to oil and gas production and worthwhile investments can be...read more
Request your copy