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 wh...