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Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
The known petroleum deposits of Texas are about 8 billion barrels (1.3 × 10 9 m 3), which makes up approximately one-third of the known U.S. supply. Texas has 4.6 billion barrels (730,000,000 m 3) of proven crude oil reserves. [15] As wells are depleted in the eastern portions of the state, drilling in state has moved westward. [16]
The Railroad Commission regulates the Texas oil and gas industry and tallies production reports submitted by operators. — Oil production hit a record 1.92 billion barrels in 2023, which was 51 ...
In 2011, the US consumed 18.8 million barrels of petroleum products per day, and imported a net 8.4 million barrels per day; the EIA reported the United States "Dependence on Net Petroleum Imports" in 2011 as 45% accounting for nearly 50% of the US trade deficit in 2011. [12]
Location of United States petroleum refineries, 2012. The United States petroleum refining industry, the world's largest, is most heavily concentrated along the Gulf Coast of Texas and Louisiana. In 2012, US refiners produced 18.5 million barrels per day of refined petroleum products. [18] Of this amount, 15 percent was exported. [19]
U.S. production has grown from approximately 5 million barrels per day in 2008, to just shy of 6.5 million barrels per day in 2012. Most of that oil is coming from the five top oil-producing states.
The Permian Basin is the largest petroleum-producing basin in the United States and has produced a cumulative 28.9 billion barrels of oil and 75 trillion cubic feet of gas. In early 2020, over 4 million barrels of oil a day were being pumped from the basin. Eighty percent of estimated reserves are located at less than 10,000 feet (3,000 m) depth.
United States, Texas: 1.5 Bakken Oil Field: United States, North Dakota: 1951 7.3 [38] Yates Oil Field: United States, Texas: 1926 1926 1929 3.0 (2.0 billion recovered; 1.0 reserve remaining) [39] [40] Kuparuk oil field: United States, Alaska: 1969 6 Alpine, Alaska: United States, Alaska: 1994 2000 2005 0.4–1 0.05 East Texas Oil Field: United ...