Source: The Texas Tribune
Setting a new bar in 2024, Texas oil and natural gas is poised to jump into 2025 with the strongest positioning in the industry’s history.
The Texas oil and natural gas industry has once again proven its resilience and strength, setting new production records in 2024 that reinforce the state’s global leadership in energy production. For the first time in its history, Texas has surpassed two billion barrels of oil, with a total of 2,003,844,281 barrels produced in 2024. Natural gas production also reached an all-time high of 62 trillion cubic feet. This achievement underscores the industry’s ability to meet growing global energy demand while delivering significant economic benefits to Texans and the broader U.S. economy.
These accomplishments highlight the role of Texas oil and natural gas in powering both the state and the nation. The record-breaking numbers reflect the continued effectiveness of the Texas Railroad Commission’s (RRC) science-based regulatory approach, which has fostered an environment of safe, efficient, and sustainable energy production.
From advanced drilling techniques to improved production technologies, the industry continues to evolve, breaking new ground while prioritizing safety and environmental stewardship. Todd Staples, president of the Texas Oil & Gas Association (TXOGA), emphasized the importance of these advancements: “The oil and natural gas industry has continued to embrace new technologies that have delivered amazing results. Texans have benefited tremendously from these record-setting production numbers.”
These technological advances have not only propelled production but also ensured that the benefits of this growth are felt across the state. Nearly 500,000 Texans are employed by the oil and gas industry, and that number continues to rise as the industry expands. High-paying jobs and substantial severance tax revenue are just two of the many ways in which the Texas oil and gas industry directly contributes to the state’s prosperity.
RRC Chairman Christi Craddick praised the industry’s contributions, stating, “These latest records further demonstrate Texas’s position as a global leader in oil and gas production… it is possible to achieve unmatched economic prosperity while at the same time upholding the mission to safeguard our communities and natural resources.”
Texas continues to play a key role in global energy markets. The state’s energy is in high demand across the globe, fueling economies and supporting allies around the world. The 2024 production figures affirm Texas’ indispensable role in meeting the world’s growing need for oil and natural gas. As RRC Commissioner Jim Wright pointed out, “While Texas energy is utilized worldwide, it is our state and our citizens who truly benefit through the high-paying jobs and severance tax revenue that these record-setting production figures represent.”
The world-class oil and natural gas reserves in Texas, particularly in counties like Martin, Midland, and Reeves, are central to the state’s continued success. Martin County, for example, produced 19 million barrels of oil in 2024, and Reeves County led the state in natural gas and condensate production. These counties, and the workers who operate in them, exemplify the skill, innovation, and drive that make Texas a global energy leader.
Looking ahead, the Texas oil and natural gas industry is poised for even greater achievements. The state’s infrastructure is expanding to meet the demands of continued growth, and ongoing technological advancements promise to further enhance production efficiency. However, to maintain this trajectory, it is essential that Texas and the nation continue to support policies that encourage responsible growth in the oil and natural gas sector.
As Staples noted, “We need to continue to support the industry with policies that encourage continued growth to meet the world’s energy demand.” This includes ensuring that the regulatory environment remains conducive to innovation and development while balancing environmental protection. Texas has long been a model for sensible, science-based regulation that enables energy production to thrive without compromising safety or sustainability.
The Texas oil and natural gas industry’s success in 2024 is a testament to the resilience, innovation, and hard work of its operators, as well as the smart regulatory framework provided by the Texas Railroad Commission. With record-setting production, job creation, and economic growth, the industry continues to prove that it is a cornerstone of Texas’ prosperity and a vital contributor to America’s energy independence.
