The Texas Petro Index by petroleum economist Karr Ingham declined for the seventh consecutive month in September as the prices of crude oil and natural gas, rig count, drilling permits and industry employment continued to fall. The index was 201.0 in September after starting its decline from 213.2 in February. It started the year at 212.5 in January and was down to 202.9 in August (base 100 in January 1996). The index is based on a comprehensive set of industry indicators.
Ingham said in the past year (since September 2018) oil price (monthly average) is down 20.1 percent, gas price (first of month spot index) is down 13.1 percent, rig count is down 19.1 percent, drilling permits are down 18.3 percent, and total oil and gas industry employment is down 2.0 percent. Production is up 12.0 percent for crude oil and 10.0 percent for natural gas.