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Texas Oil and Gas Boom Sets New Record Texas Oil and Gas Boom Sets New Record

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Energy

Texas Oil and Gas Boom Sets New Record

French oil giant Total's plant in Port Arthur, Texas.(MARC PREEL/AFP/Getty Images)

photo of Clare Foran
October 3, 2013

Oil and gas production in Texas reached a new high on the Texas Petro Index in August, a measure of several upstream economic indicators, according to Fuel Fix.

Total production of crude oil in the state hit approximately 71.1 million barrels in August—a jump of 16.7 percent for the month compared with the previous year.

Economist Karr Ingham, the index's developer, said he predicts the index will continue to rise. "What would be a surprise now is if the index actually declined," he said.

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