Ancient beginnings for Texas Oil & Gas
The Eagle Ford Group is a sedimentary based rock formation consisting of primarily of shale deposits. Scientists have dated the fossils in this rock formation to the Cenomanian era in the late Cretaceous period, or roughly 96 million years ago.
The Permian basin consists of a large sedimentary basin covering a large portion of the western part of Texas and southeastern New Mexico. This basin is part of the Mid-Continent Oil producing area covering basins that contain shale and other minerals. Scientists have uncovered various fossils dating from millennia ago within the Permian basin.
Oil & Gas By-products
The Texas Oil Boom
The Eagle Ford Group rock formation and the Permian basin rock formation properties were discovered during the Texas oil boom that happened around 1894. Petroleum, commonly known as gasoline is the first by-product from these formations. It fueled the newly created automobiles perfectly. The Texas oil boom ushered Texas into the industrial age. Many other uses for the new substance were discovered during this rapidly exploratory and innovative era.
Wild speculation did result during the early days between 1901 when the first oil well gushed forth and the mid 1940s. It was the establishment of regulatory controls by the Texas Railroad Commission that finally stopped the speculation. After WWII oil production bottomed out as cities matured in their growth spurts and settled into a comfortable pattern.
Natural gas is a relatively new oil by-product that is being rapidly adopted by big business. According to OnLocation, natural gas has great mass adoption potential, especially for business fleets and public transportation. Another great feature of natural gas is it burns cleaner than traditional petroleum products. It is also utilized to create plastic, dyes and medicines. While oil still reigns supreme for the functionality of transportation vehicles and machines, natural gas has taken the lead in producing safe and efficient home and business heating. Natural gas production peaked in 1972 due to the oil crisis.
Today both oil and gas production is still going strong. This is mainly due to the varied uses that have been recently discovered for these by-products. It can also be attributed to the still expanding exploration of the Eagle Ford and Permian rock formations. Untapped resources of shale deposits are still being discovered all the time. Oil production continues to benefit Texas by providing education in the form of revenue through land leases and endowments. With newer technology available, the oil and gas industry can now innovate and provide a wide array of uses for these by-products in ways we never knew existed. New industries have also been uncovered and will continue to be discovered as long as wildcatters and oil pioneers exist. The future is bright for the oil and gas industry in Texas and it is just getting ready for the next boom.