Texas Oil Surpasses 2 Billion Barrels: A Historic Production Milestone

-

ODESSA, Texas (KOSA) — The Railroad Commission has completed the processing of production reports provided by oil and gas operators for 2024. These figures indicate that output exceeded levels recorded in 2023, establishing fresh production highs.

  • The oil production reached 2,003,844,281 barrels, marking the first instance where it exceeded the two-billion-barrel mark.
  • The natural gas production amounted to 62 trillion cubic feet.

Revenue generated from oil and gas production contributes to the state budget, funding areas such as public education, the Rainy Day Fund, and transportation needs.

In their statements, each commissioner praised the Texas oil and gas sector.

These recent figures underscore Texas's role as a worldwide frontrunner in oil and gas extraction," stated RRC Chairperson Christi Craddick. "They show that through well-considered rules supported by scientific evidence and information, we can attain unparalleled economic success while still fulfilling our commitment to protect both our neighborhoods and environmental assets.

Oil and gas from Texas fuel not only the state but also the country and global markets through their economic impact," stated RRC Commissioner Wayne Christian. "This 'Texas Economic Miracle' can be attributed to our robust oil and gas industry, which contributes hundreds of billions of dollars benefiting areas like education, infrastructure, healthcare, and beyond within the Lone Star State. Achieving energy independence is crucial for national security and prosperity, and Texas plays an essential role in this effort through its substantial output. Under President Donald Trump, we have a federal administration that supports increased domestic oil and gas extraction, leading to enhanced energy supply, lower prices, and overall strengthening of our nation.

Another year marked by unprecedented levels of energy production underscores what Texans have always understood – that Texas energy propels not just our national economy but also those of our partners and allies around the world," stated RRC Commissioner Jim Wright. "Even as Texas energy supports global markets, it is primarily our state and its residents who reap significant advantages from these historic output numbers via well-paying employment opportunities and substantial severance tax revenues.

To break down the last five years of production statistics compiled by the Railroad Commission click here.

Comments

Post a Comment

Popular posts from this blog

Paradise Islands Offer Citizenship for Less Than £36,000

-
Image
Didn't you catch wind of it? For only $105,000, you can purchase citizenship to a tropical island paradise these days. The island country of Nauru located in the Pacific is offering passports to foreign nationals for $105,000 (£81,000) as part of an effort to generate funding for its climate emergency reserve. Soaring sea levels are swiftly eroding Nauru’s coastlines. In reaction, the nation’s leadership is considering a large-scale move inland; however, they are facing difficulties in securing funding for this initiative. Approximately ninety percent of the island's inhabitants will likely have to relocate to elevated areas due to sea levels surrounding Nauru increasing at a rate one point five times quicker than the worldwide average. Many nations provide citizenship in return for significant financial investments or property purchases. However, certain options may stand out specifically to wealthy Britons looking for opportunities. In fact, several stunning t...
Read more

Australian Grand Prix Fences Go Black for Clever Reason

-
Image
The 2025 Australian Grand Prix introduces several modifications to the circuit, primarily focusing on Turn 6 where Mercedes' George Russell had a crash in the previous year. However, the track authorities have implemented an additional alteration. The fencing along the Melbourne street race course has been painted black, particularly in the region of the starting grid. This minor alteration significantly enhances visibility for both spectators with tickets and photographers, despite its subtle nature. The cause stems from how light reflects off the metal. Black paint helps with this by absorbing the light, thus making it simpler to maintain visibility. Formula One tracks have consistently needed to address the visibility and safety of spectators holding tickets. Essential safety features include barrier walls and catch fencing, which protect not only the audience but also racers themselves. Take, for instance, Zhou Guanyu’s accident at Silverstone in 2023; without the p...
Read more

Bill Passes Just Hours Before Deadline, Averts Shutdown and Defeats Filibuster

-
Image
On Friday, senators moved forward with the stopgap funding measure approved by the House as the clock ticks nearer to a potential government closure. With a vote of 62 to 38, the senators decided to move forward with the proposal. Almost all Republicans along with ten Democrats helped override the filibuster. Senate Minority Leader Chuck Schumer from New York Senate Minority Whip Dick Durbin from Illinois, along with Senators Angus King of Maine, Brian Schatz of Hawaii, Catherine Cortez Masto of Nevada, John Fetterman of Pennsylvania, Gary Peters of Michigan, Maggie Hassan of New Hampshire, Kirsten Gillibrand of New York, and Jeanne Shaheen of New Hampshire, voted to advance the bill, going against the majority of their fellow Democrats. The House-passed short-term A spending measure, referred to as a continuing resolution (CR), would maintain funding at FY 2024 levels up until October 1st. Nevertheless, should Congress fail to pass this legislation before 11...
Read more