Oil and Gas industry is currently the most highly competitive industry, not just in the US but all over the world. In these circumstances, projects of exploration of new oil and gas reservation carry a huge risk and high chance of failure. Established oil companies like Texaco, Shell and Chevron can afford to take such risks as they have been in the business for several years and one failure won’t hurt them much. For the companies with a new setup, it is like gambling major part of their fortune into the business. Government has offered incentives to do so, seeing the deregulated industry, but taking the initiative for independent power producing companies is still a big risk. Many fields are considered rich with oil, but they just yield nothing after years of hard work and millions of dollars are spent on the exploration process.
Texas Allied Petroleum is a smaller and newer oil industry that has set up to work for the exploration, testing and drilling process. That is why it is a welcome development for the government. Founded in 2005, this company has grown and expanded to gain its current status. Presently, it produces 500,000 barrels of oil per day, a huge success for a company which began its journey just 6 years ago. It is based in Austin, Texas and carries out the exploration and digging endeavors in the states of Texas, Louisiana and the rich underground oil beds in the Gulf of Mexico. Oklahoma, Kansas and Wyoming also hold many oil digging and exploration projects of Texas Allied Petroleum.
Presently, it’s CEO and President is Anthony Black. He has provided a visionary leadership to the new company and helped it through the years to assume its current status. As oil resources are sometimes found below hundreds and thousands of feet below the surface level, advanced technologies are brought into use by the oil digging companies. Texas Allied Petroleum has made sure to use every new smart technology that is available; this assures high probability of finding hydrocarbon sources in the prospected fields. Owing to the high and ever increasing domestic demands, such companies are indeed performing an important job for the nation. The fields are rich in mineral resources all over the US, the excavation needs to be done using the most advanced technology so that more petroleum can be extracted from the rich fields and TAP is working harder every year to accomplish that goal.