Texas’ production of oil, natural gas, and natural gas liquids (NGLs) achieved new record highs for the month of September after achieving record highs just one month earlier in August, according to the Texas Oil & Gas Association’s (TXOGA) monthly energy economic analysis prepared by TXOGA Chief Economist Dean Foreman, Ph.D. 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,” said TXOGA president Todd Staples. “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. 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.”
“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.”
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.
