Railroad Commission Report Highlights Texas Oil and Gas Industry’s Strong Performance

Wednesday, October 9th, 2013 and is filed under Oil and Gas Current Events, Texas Oil and Gas Investing

A recent report from the Railroad Commission of Texas indicated that the state’s energy industry is continuing to experience strong growth as a result of the innovative investments in new technologies and methods that companies have made in the past.

Texas Oil and Gas Technology InvestmentsThe commission issued 1,606 original drilling permits in August, including 1,438 permits to drill new oil and gas wells, 27 to re-enter existing well bores and 141 to perform recompletions. These numbers indicate that drilling activity will remain robust in the Lone Star State during the coming months. Also supporting this conclusion is the concentration of production technology within Texas. As of September 20, the state’s average rig count was 927, which represents 55% of all active onshore drilling rigs in the U.S.

Oil and gas production continues to increase, leading all other states.

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