Week In Review: February 15, 2019
Fri, February 15, 2019
February 15, 2019
Two separate reports released over the past week – one from the Texas Independent Producers and Royalty Owners Association (TIPRO) and one from the Texas Oil and Gas Association (TXOGA) – outline the astonishing economic benefits provided by oil and natural gas production in the Lone Star State.
Despite recent low crude prices and a significant drop in the DrillingInfo rig count during January, the giant Permian Basin of West Texas and Southeast New Mexico continues to expand its role as the main driver of energy growth in North America. In just the past week, we have seen the following significant events that are attributable all or in part to what has become the world's second-most-productive oil and gas resource.
A combination of technical innovation, aggressive investing and copious layers of oil-rich shale have transformed the Permian, once considered a worn-out patch, into the world’s second-most-productive oil field. And this transformation has apparently inoculated Texas against its traditional economic enemy, the boom-and-bust cycle pegged to oil prices.
TXOGA’s Texas Energy Day is this Wednesday, February 20th! If you're in Austin, come down to the Capitol to celebrate the accomplishments of Texas oil and gas! Click here for more details: https://www.facebook.com/events/2290934517793396/
In Case You Missed It
America has reclaimed its throne atop the oil world.
The U.S. shale boom has reshaped the global energy landscape, with American oil output more than doubling over the past decade. Texas is at the epicenter of the boom because of regions like the Permian Basin that are expected to keep the U.S. ahead of Russia and Saudi Arabia as the #1 oil producer.
Click here to support Texas oil and gas production: https://www.texansfornaturalgas.com/support_texas_oil_gas_production