April 4, 2019
New data released by Saudi Aramco, Saudi Arabia’s national oil company, estimates the country’s Ghawar oilfield has a production capacity that is 300,000 barrels per day (b/d) less than what is currently being produced in West Texas’ Permian Basin. By surpassing the Ghawar, thought to be the world’s most prolific, the Permian has now solidified its position as the largest oil producing region in the world – with even more production growth expected.
Texas has been experiencing record levels of oil and natural gas production, spurred by advancements in hydraulic fracturing and horizontal drilling. This boom has reduced energy prices for consumers, lessened our dependence on imported oil, and enhanced our state’s long-time status as a petroleum exporter.
The Port of Corpus Christi is moving forward with its multibillion-dollar crude oil storage terminal on Harbor Island in Port Aransas. Port commissioners voted Thursday to authorize a lease with Lone Star Ports LLC for the marine storage terminal. More than 30 Port Aransas residents were on hand at the meeting, with several voicing their opposition to the project.
We were fortunate enough to be able to speak to legislators representing all parts of Texas about the importance of oil and gas to the Lone Star State. Take a look at what they said: https://www.texansfornaturalgas.com/legislator_interviews_86
In Case You Missed It
"From technological advancements resulting in increased oil and natural gas output to our LNG export facilities, the Lone Star State’s energy economy is firing on all cylinders. As Governor, I will continue to work with our independent oil and gas producers to take our economy to even greater heights.”
Governor Greg Abbott