Wedoany.com Report-Mar 28, The RRC’s long history of common sense, science-based regulation of the oil and gas industry has safeguarded Texas communities and the environment while also fostering responsible production benefitting the state economy and America’s energy independence.
The Texas oil and gas industry continued a hot streak in 2024 with production volumes surpassing records that were set in 2023.
The Railroad Commission tallies production reports submitted by operators and the latest reports show these record-setting volumes in 2024:
Oil production was 2,003,844,281 barrels, the first time it surpassed the two billion threshold; and
Natural gas production was 62 trillion cubic feet.
“These latest records further demonstrate Texas’s position as a global leader in oil and gas production,” said RRC Chairman Christi Craddick. “This also proves that with sensible regulations backed by science and data, it is possible to achieve unmatched economic prosperity while at the same time upholding the mission to safeguard our communities and natural resources.”
“Texas oil and gas powers the state, nation and the world both with energy and economics,” said RRC Commissioner Wayne Christian. “The Texas ‘Economic Miracle’ happens because of oil and gas, which brings in hundreds of billions of dollars that has financially enriched the Lone Star State’s education, infrastructure, health care and more. Energy independence is key to a secure and prosperous nation, and Texas’ production is vital to making that a reality. With President Donald Trump, America now has a federal government that will encourage U.S. oil and gas production, which will lead to more energy, cheaper costs and a stronger nation.”
“Yet another year of record-breaking energy production reinforces what Texans have long known - that Texas energy fuels our nation’s economy and those of our friends and allies across the globe,” said RRC Commissioner Jim Wright. “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.”
Tax revenue from oil and gas production is funneled into major components of the state budget including public education, the Rainy Day Fund and transportation.
