Railroad Commission of Texas said last week production of both crude oil and natural gas in the state reached record numbers in 2023. Oil production was about 1.92 million barrels, which was about 51 million barrels ahead of the previous record of about 1.86 million barrels in 2019. Natural gas production was 12.01 trillion cubic feet of gas, which was 13 percent ahead of the previous record of 10.61 trillion cubic feet in 2021.
Wei Wang, executive director, said April 9, “These production records are beyond impressive and reflect how Texas continues to provide reliable domestic production for the nation… The RRC is committed to our critical mission supporting Texas’ economic growth that benefits Texans. Production taxes collected from the oil and gas industry pay for our schools, highways and the state’s ‘Rainy Day Fund.’ The commission will continue its hard work to ensure the state remains at the forefront of the energy sector.”
Nine of the top 10 counties for oil production in 2023 were in Permian Basin – led by Midland with 224,924,029 barrels. And seven of the top 10 counties for gas production were in Permian – led by Reeves with 1,092,814,942 thousand cubic feet.
Dan Foreman, chief economist for Texas Oil and Gas Association, added, “Texas’ strong performance across the energy value chain has meant that U.S. energy increasingly depends on our state. Ample production has replenished oil and natural gas inventories and kept downward pressure on consumer prices….”