Texas Energy Mutua
A Grapevine-based oil and gas company
About Texas Energy Mutual
Texas Energy Mutual, LLC, a Grapevine-based oil and gas company,
conducts natural resource extraction and production programs at domestic
reserves. As the oil and gas markets require increasingly innovative
and reliable technologies, the company endeavors to apply new technology
and industry knowledge to each project to maximize its production
efficiency. Throughout its operational history, Texas Energy Mutual has
completed multiple lucrative oil and gas extraction programs in Texas,
Louisiana, and Oklahoma.
TEM's successes include numerous transactions and acquisitions that have increased its value, as well as the decision to expand its operations into the natural energy markets. The enterprise currently conducts projects and investigations into new opportunities in Oklahoma and Texas.
In addition to its commercial initiatives, the independent oil and gas enterprise contributes a portion of its proceeds to several nonprofit organizations. The charities that TEM supports include Carpenters for Christ, Meals on Wheels, the Salvation Army, Doctors Without Borders, and Toys for Tots. The company additionally allocates resources to a local food kitchen.
Ten U.S. States Account for Two-Thirds of Domestic Oil Reserves
Texas Energy Mutual pursues investment opportunities in the U.S. oil and gas industry. The Grapevine, Texas-headquartered firm acquires oil and gas assets based in Oklahoma, Texas, and Louisiana. Texas Energy Mutual applies leading-edge exploration and extraction technologies to advance these projects and increase their revenues.
The U.S. oil industry continues to grow exponentially. According to data from the International Energy Agency, the U.S. could become the world’s leading oil producer as early as 2015. From 2011 to 2012, the U.S. posted a 15 percent rise in proven oil reserves. Financial news and media company 24/7 Wall Street recently released a report identifying the 10 most oil-rich states in the U.S.
In the 24/7 Wall Street report, the highest-producing oil states also happen to contain the highest total proven oil reserves. The 10 states on the list accounted for close to 80 percent of all U.S. proven oil reserves at the end of 2012. As producers, they pumped 2 billion of the 2.7 billion barrels of U.S. oil extracted in 2013. Texas topped the list with its 9.6 billion barrels of proven reserves, which was nearly one-third of all U.S. oil and natural gas reserves in 2012. Next on the list were North Dakota, Alaska, California, and New Mexico. Oklahoma, ranked sixth with total reserves of 934 million barrels, experienced a major boom in 2011 and 2012 after reserves of nearly 500 million barrels of oil were discovered there. Behind Oklahoma were Wyoming, Colorado, Utah, and Louisiana.