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Petroleum in Texas — oil and gas resources, extraction, production, distribution, and environmental issues in the state. Subcategories This category has the following 7 subcategories, out of 7 total.
The Magnolia Petroleum Company was an early twentieth-century petroleum company in Texas. The company was established in 1911, being later acquired by the Standard Oil of New York, which operated it as a wholly-owned subsidiary until its demise in 1959. [1] [2]
Magnolia was the last "dry" city in Montgomery County. [22] On April 9, 2013, the Magnolia City Council adopted a 20-year comprehensive plan entitled, "Magnolia on the Move." [23] In the plan, the city outlines its vision for dealing with the projected business and residential growth in the area. [24]
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States. [1]
Superior Oil drill site, West Texas 1949. The Superior Oil Company was founded in 1921 in Coalinga, California, by Keck, [1] after he had accumulated enough leases to start his own firm. [6] Superior Oil began as a drilling contracting firm and grew into other oil services including exploration and production of oil and natural gas.
In February 2014, the company sold 82,000 acres in the Eagle Ford shale area of Texas to Devon Energy for $6 billion in cash. [3] [2] The assets were owned in a joint venture with a fund of The Blackstone Group. [4]