With the oil boom still in full swing, now is as good a time as any to enter the industry through investments. As older wells and underground reservoirs dry up, brand new ones are being found and there are still so many areas with untapped potential waiting to be drilled. The USA produces 60% of its own oil consumption, but our residents love oil so much that we must import the remaining 40% from other countries; namely Canada and Saudi Arabia. While this trade is beneficial for everyone involved, being able to find new drilling areas within our own borders means Americans can be offered more jobs and we can break away from our dependence on other countries.
Entering the oil industry through investments
Investing is a great way to get started in the oil industry. You may choose to buy shares or stock of barreled oil, which is fine but the price per barrel fluctuates often so you need to remain on top of market changes to be able to earn a return on your investment or shares. Investing in the drill itself means you can receive a long-term return on your investment over the life of the drill and depending on how much oil it can harvest.
Where will my oil well be located?
According the US Energy Information Agency, Texas is the reigning champion of oil production having a proven reserve of almost 10 billion barrels. It is followed by North Dakota which has just one refinery but can boast nearly 4 billion barrels of proven reserve. Alaska brings in the number 3 spot with well over 3 billion barrels of reserve, though it has significantly slowed over the past 20 years due in part to more and more reservoirs being found in the continental states. This allows a much easier collection and transport to markets. As an investor in an oil well, you have the option to place your money on an established drill or to fund the construction of a new one. Both have their benefits and risks, so weigh each option carefully.
Is this a good opportunity for investors?
Investing in and of itself can be a risk, that’s just the way it goes. But for the ones who do their research and understand the nature of the beast, investing in oil exploration, drilling and established wells can end up being extremely profitable.
When your corporation is looking for oil wells for sale, contact Oil Boom USA to consider making an investment in the lucrative industry.