Official report to the House of Representatives of the 58th Legislature of Texas Page: 6 of 94
The following text was automatically extracted from the image on this page using optical character recognition software:
Recent revelation of production of illegal oil on a huge
scale by means of crooked wells with the possible involvement
of public officials has brought into question
the entire system of regulation by the state of the oil
and gas industry,
This is of tremendous importance to that industry and,
therefore, to all of the people of this state. This much
is certain: the importance of the oil and gas industry to
the people of this state cannot be overstated. The 1962
edition of the Independent Petroleum Association of America
bulletin, which has just been released, gives us an idea.
Here are some figures:
There are 254 counties in Texas; 211 produce oil and gas.
Forty-six per cent of the total land area in Texas is under
oil and gas lease. More than fifty-one billion dollars worth
of crude oil has been produced in the State of Texas. Petroleum
represents 93 per cent of the total value of all minerals produced
in this state. The 1962 value of petroleum products was
four billion dollars. Five hundred thousand oil and gas wells
have been drilled. Thirty-five per cent of the total state tax
revenue comes from oil and gas production and motor fuel
sold. This doesn't even include the tremendous ad valorem
taxes paid by all owners of petroleum properties. 175,000
people are employed by important segments of the petroleum
It is readily apparent that anything that affects the health of
the oil and gas industry of Texas is of vital concern to every
person in this state.
Furthermore, it is well known that the oil and gas industry in
Texas faces many serious problems at this time. This may be
shown by some comparisons with Louisiana. In the 10-year
period from 1952 to 1962, Texas' share of the total production
of oil in the United States fell about 10 per cent from 44 per
cent to about 35 per cent. By comparison, Louisiana increased
its share from 10 to 17 per cent during the same period. Total
well completions in Texas in 1961 was approximately 13 per
cent below the number of wells completed 10 years before.
Even more significant, exploratory well completions in Texas
in 1961 were 35 per cent lower than in 1952, while exploratory
completions in Louisiana were 75 per cent higher.
It is apparent that the trend in Texas is down, while the trend
in other states is up.
Here’s what’s next.
This book can be searched. Note: Results may vary based on the legibility of text within the document.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Book.
Texas Legislature. House of Representatives. General Investigating Committee. Official report to the House of Representatives of the 58th Legislature of Texas, book, 1963; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth5869/m1/6/: accessed June 26, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .