"All Texans and Americans should take comfort in knowing the men and women in the oil and natural gas industry are working every day to achieve a new level of energy security.”
Further, as crude and NGL production has climbed, in-state refiners have processed record amounts.
Specifically, TXOGA estimates that:
- Texas’ oil production in September 2023 was a record-high 5.9 million barrels per day (mb/d), surpassing the record previously set in August 2023;
- Texas’ natural gas marketed production in September 2023 also reached a new record high, with 34.6 billion cubic feet per day (bcf/d) of natural gas gross withdrawals, surpassing the record previously set in August 2023; and
- Texas refineries in July processed a record 5.6 mb/d of crude oil and a record 3.1 mb/d of NGLs.
“This data confirms the Texas oil and natural gas industry is a powerhouse of production, pipelines, processing and ports – all while continuing to make solid gains in environmental progress. Investment in infrastructure by our industry is what enables this high level of performance, which further solidifies the Lone Star State’s position as the world’s energy leader,” said TXOGA president Todd Staples.
"At a time of global unrest, all Texans and Americans should take comfort in knowing the men and women in the oil and natural gas industry are working every day to achieve a new level of energy security," Staples said.
TXOGA’s analysis also found that Texas exported nearly $125 billion of energy products in the first seven months of 2023.
Further, Texas’ crude oil production rose to 43.4% of oil production in the U.S., and Texas’ natural gas production represents 27.5% of overall U.S. production.
“With the current geopolitical environment and the domestic crude oil reserves near 40-year lows, it’s imperative that the U.S. have smart energy policies to develop essential U.S. oil and natural gas resources,” said Foreman.
"As the U.S. has reached a new crude oil production record (13.2 mb/d), it’s clear that Texas’ record high production has remained the primary driver of U.S. and increasingly global energy security,” said the study's author.
"As the U.S. has reached a new crude oil production record (13.2 mb/d), it’s clear that Texas’ record high production has remained the primary driver of U.S. and increasingly global energy security,” said the study's author.
