The revolution in the energy sector in the United States has and continues to transform communities in various parts of the country. However, the effect of this revolution is not felt more acutely than in the state of Texas. Texans are not strangers to the oil business, and residents of San Antonio have witnessed the boom firsthand many times before and the busts that typically follow after that.
This article covers some of the lesser-known facts about the oil industry in San Antonio.
- Oil companies are anticipated to spend north of 100 billion on drilling operations in the Eagle Ford Shale. This gas and oil-rich geological formation span the southern parts of Texas, including San Antonio.
- George Mitchell is the oilman in San Antonio that is held responsible for innovations in the field of horizontal drilling and fracking that resulted in the oil boom in Texas in the first place. Back then, many thought he was an odd individual as he was obsessed with figuring out new ways of accessing fossil fuels held underground. However, his innovations would radically change San Antonio’s economy and country. George Mitchell passed away at the prime age of 94.
- You can see the San Antonio oil industry at night from outer space. Pictures taken by NASA satellites show a vast constellation of glowing dots along the Eagle Ford Shale, which passes through San Antonio.
- As of 2014, San Antonio, along with the state of Texas, was expected to surpass oil-producing giants such as Mexico, Venezuela, and Iraq to take its spot as the ninth-largest producer of oil in the entire world. Since the start of the oil boom, the industry in and around San Antonio has created over half a million new jobs.
- The impact of the oil boom in San Antonio has improved the lives of its residents. The oil boom in the area peaked in 2014 and generated billions in revenue. This, in turn, improved infrastructure such as the roads in the area. This has also resulted in a surge in employment rates, the average income per household, and even home sales around San Antonio. Landowners who leased out their land to drillers, in particular, earn handsome rent fees monthly.
- San Antonio is the second most populated city within the state of Texas and seventh in the entire country. San Antonio hosts the Texas Oilfield Expo as well as over 80 oil and gas companies in total. One notable company in the city is Valero Energy, which generated 108 billion dollars in revenue in 2019. Valero also owns one of the largest employers in the city, in the form of the company named Ultramar Diamond Shamrock Corporation.
- There are always two sides to a coin, and the oil industry in San Antonio is not exempted. The remarkable economic growth brought about by the oil industry in this city has also brought numerous social ills. With the city’s vast circulation of money, drugs and prostitution have become prevalent. Accidents in drilling sites have also increased; as a result, making the services of a San Antonio oil field injury lawyer even more critical.