New production records set in August, Texas Oil and Gas Association says

According to a recent report by the Texas Oil and Gas Association (TXOGA), Texas has set new production records in the month of August. The report, prepared by TXOGA's Chief Economist Dr. Dean Foreman, stated that crude oil production in Texas rose to 43.2% of American oil production, while natural gas production reached 28.5% of natural gas marketed production.

The report highlighted that Texas produced a record high of 5.7 million barrels per day (mb/d) of crude oil last month. In addition, the state's natural gas marketed production reached 34.1 billion cubic feet per day (bcf/d) of natural gas gross withdrawals. These production levels demonstrate the continued growth and importance of the oil and gas industry in the Lone Star State.

The significance of Texas' energy production was further emphasized by the export numbers. In the first half of this year, Texas exported over $107 billion worth of energy products, with crude oil accounting for a significant portion at $49.3 billion. These exports not only contribute to the state's economy but also highlight Texas' role in global energy markets.

TXOGA President Todd Staples emphasized the importance of the oil and gas industry, stating that it is essential in powering modern lives. He highlighted that oil and gas provide affordable and reliable electricity, fuel for transportation, and serve as the building blocks for 96% of the products used daily. Staples also emphasized that Texas' oil and natural gas industry continues to lead the nation, driving U.S. energy production and ensuring energy security for both Americans and international allies.

Overall, the new production records set by Texas in August demonstrate the state's continued dominance in the oil and gas industry. These records, coupled with the significant export numbers, highlight the importance of the industry to the Texas economy and its role in ensuring energy security both domestically and internationally.