Last updateFri, 05 Jun 2020 3pm

End-User News

Continued Growth for Texas Oil Output Expected This Year

Last year was an important year of growth and recovery for the upstream oil and gas industry in Texas, according to the Texas Petro Index (TPI), which marked its 13th consecutive increase in December by improving to 188.8, nearly 25% higher than then December 2016 TPI of 151.2.

Noting that predictions of future crude oil prices "are all over the map," economist Karl Ingham said, "at this point, there is every reason to believe 2018 will be another year of general growth and expansion in the Texas upstream oil and gas economy, characterized by increasing rig counts, higher numbers of wells drilled, and continued growth in industry employment.” 

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