Texas Allied Petroleum was founded in November 2005 and it works in the business of oil and natural gas production. It is headquartered in Austin, Texas. It had started off as a natural gas and crude oil explorer and extractor. However, when prices of the gas plunged in 2008 and as there was a sudden increase in demand of oil, it also started with oil exploration and extraction. The company has been successful due to its well-balanced portfolio and the technology they use. The majority of their projects are situated around the Texas Gulf Coast. Texas Allied Petroleum shows promises to become one of the leading oil producers in the US in the near future. The company has an approximately equal ratio of gas and oil volumes extracted, and it strives to maintain this.
A number of wells that dried up and were rendered as non-productive are now being re-drilled to make them yield oil again. This will be a profitable venture that can be achieved relatively cheaply. For example, by March 2011 it was able to successfully restore and restart drilling at Cooper Cove, Little Laramie and Herrick fields in Wyoming. Production from these fields is approx. 100 barrels of oil per every 24 hours. A surface discharge system will be installed, and this will increase the production, reducing the operating costs.
Most of the projects conducted by Texas Allied Petroleumare shallow wells, which ensure that exploration costs incurred are minimal and yield time is relatively less. Investing in clever technology and state of the art machinery has helped them in locating a good site to drill. One of such techniques is the usage of subsurface geology and their 3D seismic geophysics. This has also led them to several off shore drilling sites. Continual exploration for both big and small fields even in remote geologic locations and subsequent extraction are necessary to maintain the supply levels that they have reached. Besides, the maximum recovery of the discovered resource and reducing wastage of this precious commodity has also enhanced their bottom line.
At present, Texas Allied Petroleum produces more than 500,000 barrels of oil in a span of 24 hours, which is a commendable quantity for such a young company. This is very important in meeting local and national demands. Earlier in February 2010, it had ended the Wilson-Todd Well Project that was started a year back. This was located in Coffee County, Kansas. They drilled and tested a well of 2200 feet deep. The results and accuracy of this exercise were considered remarkable.
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