Payson Petroleum currently holds 880 net mineral acres in Grayson County, Texas. Grayson has been the highest oil-producing county in all of Texas, which says a lot since Texas currently holds 843 oil and natural gas drilling rigs. This is 26% of all drilling rigs that are operating in the entire world!
- When first testing Brown #1, Payson pulled over 500 barrels of oil in just 25 hours.
- With over 4,652 drilled wells, Grayson produces 201 barrels of oil each day.
- In January of 2014, Grayson County produced 96,022 BBL and 148,230 MCF of gas.
- Each barrel of oil is equivalent to 42 gallons of oil. In January alone, Grayson County produced enough oil to fuel, on average, 268,861 automobiles with 15-gallon gas tanks.
- A 92% success rate is still proven to be accurate when pulling oil in this region.
Oil is a crucial substance in the lives of Americans. Oil is beneficial for many other products besides solely fueling your vehicle. It is now used in rubber, synthetic fibers, heating oil, and many household items. By moving oil production into the United States and into oil-rich Grayson County, Texas, this will help lower the costs of production and boost the American economy. Because wells in Grayson County have produced over 350,000 barrels of oil and a billion cubic feet of gas, it is safe to say that this area is beyond successful in oil production.
Here at Payson Petroleum, we want to do our part by finding new resources and drilling wells. If you’d like more information on this topic, or would like to get to know us further, please visit us at www.paysonpetro.com or email us at email@example.com.