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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Texas Petro Index for March up 9.4 percent in past year

May 9, 2019 by PBOG

The Texas Petro Index prepared for March by Amarillo petroleum economist Karr Ingham remains relatively flat but above the index of a year ago.  The March index was 212.4 for a decline of less than a point from 213.2 in February.  The index was 212.2 in December and 212.5 in January, but 194.2 in March 2018 for an increase of 9.4 percent .  The index (base 100 in January 1995) is based on a comprehensive set of indicators from the state’s oil and gas industry.  Ingham said although commodity prices are down in the past year, rig counts in the state are up, and production of both crude oil and natural gas has increased.  Production of crude oil for March was up 24.6 percent from a year earlier.  Total oil and gas employment was up in March 2.9 percent above March 2018.

Filed Under: News, News Reviews, PBOG Newsletter Tagged With: news reviews

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