Texas’ energy exports and production of crude oil, natural gas and NGLs again achieved record levels in October, according to Texas Oil & Gas Association. Marketed natural gas production achieved record high of 33.8 billion cubic feet per day in October, according to TXOGA estimates, along with 5.7 million barrels per day of oil. For the first 10 months of 2024, Texas accounted for 43 percent of U.S. crude oil production and 29 percent of U.S. natural gas marketed production.
Todd Staples, president, said, “Abundant energy resources, world-leading infrastructure and a strong business climate continue to deliver unmatched results making Texas a remarkable energy leader… A recurrent theme in 2024 has been that Texas’ oil and natural gas production has continued to exceed expectations.”
Texas had refined product exports of 4.5 million barrels per day in August. Dean Foreman, chief economist, said, “If Texas were a country, these exports would rank #1 in the world.”