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A look at Texas oil and gas production statistics

Updated: Jun 9, 2023

In an ever-changing energy landscape, one truth remains constant, Texas is a powerhouse of the oil and gas industry. But as the latest statistics suggest, the heartbeat of this energy titan is experiencing some fluctuations.

As of February 2023, the Texas oil wells count dipped to 160,103, falling short of the 162,109 wells recorded in 2022, as reported by the Railroad Commission of Texas (RRC). Moreover, the yield from these wells also signaled a downward trend.

In oil sector, february 2023 saw a preliminary total of 102,867,009 barrels harvested, an increase compared to February 2022, which stood at 99,073,136 barrels in a preliminary report, as well. Notice that later, this last year number was updated to 113,567,025 barrels.

Contrary to the oil sector, the gas industry experienced growth. In February 2023, the number of gas wells climbed to 87,153, outstripping the previous year's count of 84,801 for the same month.

Furthermore, natural gas production surged a preliminary total to 760,548,931 thousand cubic feet, marking a significant increase from the 718,315,645 mcf produced in February 2022. Notice that later, this last year number was updated to 855,235,057 mcf.

While these numbers could be subject to some alterations by year-end due to operator-provided data, they offer a compelling snapshot for a comparative analysis of Texas' energy production.

Texas is a big  producer  of oil and gas
Texas is an oil and gas producer

Oil and gas exploration continues and permits for wells continue

However, in the light of a decrease in drilling permits, questions about the state's future oil and gas production are on the rise.

The RRC reported that in April 2023, only 607 original drilling permits were issued, a drastic drop from the 946 permits of 2022.

Of the permits granted this year, 525 were for new oil or gas wells, 6 for re-entry into plugged wellbores, and 69 for the re-completion of existing wellbores.

Given these shifts in production and drilling permits, the Texas oil and gas industry might be poised for a transformative era. As we continue to monitor the heartbeat of this energy titan, one thing is clear - the pulse of Texas' energy industry is worth watching.

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