Texas produced 2.003 billion barrels of crude oil in 2024 – a record volume, according to Railroad Commission of Texas, and the first time for the state to top 2 billion barrels in one year. The commission said March 26 that Texas produced 2,003,844,281 barrels of oil to better the recent records of 1.99 billion barrels in 2023, 1.87 billion barrels in 2022 and 1.86 billion barrels in 2019.
Texas also produced record volumes of natural gas in 2024 with 12.62 trillion cubic feet. That tops the previous records for natural gas production of 12.30 trillion cubic feet in 2023, 11.43 trillion cubic feet in 2022 and 10.51 trillion cubic feet in 2021.
Jim Wright, commissioner, said, “While Texas energy is utilized worldwide, it is our state and our citizens who truly benefit through the high paying jobs and severance tax revenue that these record setting production figures represent.” Tax revenue from oil and gas production is funneled into major parts of the state budget, including public education, the “rainy day fund” and transportation.