Elon Musk 'sSpaceX plans to drill for natural gas in Texas, $4- SpaceX is looking to drill wells close to the company's Boca Chica launchpad.
- Musk, who recently moved to Texas, launches some of his rockets and is also building a battery factory in the state.
Elon Musk, who recently relocated to Texas, now reportedly has plans to to drill for natural gas there, too.
SpaceX, Musk's space company, is looking to drill wells close to the company's Boca Chica, Texas, launchpad, $4 The site in Boca Chica previously hosted prototype launches for the company.
The billionaire's plan was revealed during a recent hearing before the Railroad Commission of Texas, the state's energy regulator, $4
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Production plans $4 between the SpaceX subsidiary Lone Star Mineral Development and Dallas Petroleum Group, which claims ownership of some inactive wells sitting on the same land.
Dallas Petroleum Group claims it has ownership of both the wells, as well as surrounding acres, $4
Although it's unclear what exactly the gas would be used for, Tim George, an attorney representing Lone Star, said at the hearing that SpaceX plans to use the methane it extracts from the ground "in connection with their rocket facility operations," $4
Insider previously $4 that SpaceX CEO Elon Musk had moved from California to Texas, a $4 for tech CEOs looking to save on state income taxes. He has also said he would relocate Tesla to Nevada and the Lone Star State.
In December, Musk, said the reason behind his move to Texas was so that he could focus on SpaceX's Starship vehicle and Tesla's new Gigafactory.
$4 that he will give $100 million to $4. Carbon capture could play a major role in President Joe Biden's plans to address climate change, and Musk's comments have suggested that he wants to produce synthetic carbon-neutral rocket fuel to power SpaceX rockets.
—Elon Musk (@elonmusk) $4
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The surrounding SpaceX land has had little oil and gas development, and nearby there are almost a dozen wells classified as either abandoned or dry holes, Railroad Commission Records show.