In this article, we are going to discuss the Top 5 Oil and Gas Producing States. If you want to check out our detailed analysis of the global oil and gas market, the use of AI in the oil and gas industry, and oil majors going green, head to Top 15 Oil and Gas Producing States.
5. Alaska
Total Crude Oil Production in 2022: 159.611 million bbls
Total Natural Dry Gas Production in 2022: 351,011 mmcf
The oil and gas industry supports nearly 70,000 jobs in Alaska – a figure that could grow even further as the industry expects to invest another $14 billion in various projects in the next five years.
However, in September, the White House scrapped controversial oil leases in an Alaskan wildlife reserve that were awarded in the final days of the Trump administration as part of a broad effort to clamp down on Arctic drilling. Their cancellation comes as President Joe Biden’s administration looks to burnish its environmental credentials in the face of criticism over support for fossil fuel projects.
Alaska is counted among the Top 5 Oil Producing States.
4. Colorado
Total Crude Oil Production in 2022: 160.149 million bbls
Total Natural Dry Gas Production in 2022: 1,628,281 mmcf
Colorado was the fifth-largest crude oil producing state in America in 2022 and accounted for almost 4% of the total U.S. crude oil output. It was announced earlier this year that the Denver-based PDC Energy has been acquired by the Chevron Corporation, creating the largest oil and gas company in the Centennial State. The new company will now hold 600,000 acres statewide and produce 400,000 barrels of oil per day on average, making it one of Chevron’s top five production units in the world. The California-based oil giant is also looking to expand its renewable fuel business in Colorado to include hydrogen, geothermal, and carbon sequestration.
3. North Dakota
Total Crude Oil Production in 2022: 386.203 million bbls
Total Natural Dry Gas Production in 2022: 793,694 mmcf
The oil and gas industry in North Dakota remains a powerhouse for the state’s economy, accounting for more than $42.6 billion in gross business volume, nearly 50,000 jobs, and $3.8 billion in state and local tax revenues in 2021.
However, a shortage of oil-field workers is threatening the Peace Garden State’s petroleum industry’s continuing recovery from the COVID-19 crisis. To help mitigate the issue, the Uniting for Ukraine humanitarian program is recruiting Ukrainian refugees and migrants to help fill in the gap and provide the much needed workforce for North Dakota’s oil and gas industry.
North Dakota is placed among the Top 3 States that Produce the Most Crude Oil.
2. New Mexico
Total Crude Oil Production in 2022: 579.837 million bbls
Total Natural Dry Gas Production in 2022: 2,454,058 mmcf
New Mexico has been a major producer of oil and natural gas since hydrocarbons were first discovered in the state during the early 1920’s. In 2022, the Land of Enchantment accounted for more than 13% of the total U.S. crude oil production, and 6% of the nation’s total natural gas gross withdrawals.
The annual oil production in New Mexico has more than doubled over the last five years, and the surge has allowed the state to bolster public salaries, expand access to no-pay childcare, and offer tuition-free college to its residents – while also setting aside billions of dollars in a variety of ‘rainy-day’ emergency accounts and investment trusts.
1. Texas
Total Crude Oil Production in 2022: 1,846.806 million bbls
Total Natural Dry Gas Production in 2022: 9,247,168 mmcf
Texas is the state that produces the most oil and gas in America, with the Lone Star State accounting for 42% of the nation’s crude oil production and 27% of its marketed natural gas production in 2022. The oil and gas industry employed around 443,000 Texans last year, earning an average of $115,300 each.
Texas is also the state with the most oil refineries and accounts for 29% of the nation’s total refining capacity. The state’s 27 oil refineries process about 5.1 million barrels a day and employ a workforce of around 100,000.
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