Unleashing Energy and Jobs
Source: Houston Chronicle, Barry Russell (8/29/11)
"Forget what you thought you knew about the oil and gas industry. In the U.S., it's the independents that are doing the heavy lifting."
Forget what you thought you knew about the oil and gas industry. In America, it's the independents that are doing the heavy lifting.
Independent producers are the companies involved in the exploration and production (upstream activities) of America's oil and natural gas reservoirs. There are close to 18,000 independent oil and gas companies in America that operate in 32 states across the country. Although they may be small, they drill 95% of the wells in the U.S. These figures are only projected to rise.
The economic implications of independents are tremendous. In 2010, according to a study commissioned by the Independent Petroleum Association of America (IPAA), independents added $579 billion to the economy—4% of the total U.S. gross domestic product. . .View full article