What’s more, is that the Eagle Ford Shale “play”, located in the areas of Austin and San Antonio, surpasses every other play in the world. In layman’s terms, “play” refers to the existence of an oil-and-gas rich geological formation. Within the Eagle Ford Shale it is expected that oil companies will spend $100 billion on drilling operations, likely to yield incredible amounts of valuable oil and gas.
There is a lot of talk concerning the Texas Oil Boom. Large amounts of liquid gold lie beneath the surface of the Lone Star State, which has been known for several years as a lucrative area and continues to disperse its natural wealth. However, despite the extensive history of oil in Texas, very few know anything beyond the mere presence of oil. The most recent oil boom is molding the state in ways that those involved in oil investment may or may not have expected.
By the end of 2014, it is expected that Texas will become the ninth-largest oil producer in the entire world. This places the single state ahead of entire countries in oil production, such as Venezuela, Mexico, Kuwait and Iraq. This has also effectively created at least half a million new jobs since the boom began, which is essential for the American economy.