When you think of oil, you think of Texas. The state is one of the largest oil producers in the nation. Since 1999, Texas has more than doubled its oil production. In 2015 alone, Texas produced 106 million barrels of oil. Thanks to this unexpected boom, the U.S. has become less dependent on foreign resources.
The central and southeast parts of Texas have seen the most economic benefit from the state’s oil supply. Over the last several years home sales and average incomes have soared in the following cities, which are the biggest oil producers in the state!
Not only is Houston the largest city in Texas, but it is also the fourth-largest populated city in the U.S. The city has long been inundated with countless oil and gas companies. Houston’s industrial gas complex is currently undergoing a $50 billion development project designed to strengthen the refinery system already in place. As of October 2018, the city was home to more than 150,000 oil industry jobs, with the average skilled energy worker earning roughly $200,000 annually. Houston often bears the well-earned title of “Energy Capital of the World.”
The Texas oil boom was responsible for the sudden growth of this North Texas town, attracting nearly 300 companies to make a home within its confines. Austin inhabitants looking for work in the energy industry can expect to find jobs in surveying, drilling, production, and investing. Further cementing the city’s status as an oil town, The University of Texas at Austin houses a petroleum and geosystems engineering department responsible for educating students and providing research and support services to area businesses.
A number of billion-dollar oil companies are located in Dallas including Energy Transfer Equity and the Holly Frontier Corporation. Both corporations took in an estimated $68 billion in combined revenue in 2013, which helped change the reputation of a city once known for cotton and rail. Dallas was also the home of H.L. Hunt. The former oil “tycoon” and his family were said to be the wealthiest in Dallas before his death in 1974.
This Texas town, situated neatly on the San Antonio River in south-central Texas, is home to one of the country’s largest industry expos. Several famous oil companies, like Valero for example, have chosen to call it home, likely due to the Ultramar Diamond Shamrock Corporation which is the cities largest employer and a massive oil refinery. As of 2013, there were more than 80 energy industry companies in San Antonio.
Midland is located on the Permian Basin, an extremely significant location given the recent discovery of oil & gas reserves that nearly doubled original estimates. The city has experienced exponential growth in population and revenue thanks to the oil boom. In fact, they nearly doubled the median household income between 2000 and 2013. Four of the areas top ten employers are oil and gas companies.