Todd Staples, President of Texas Oil & Gas Association (TXOGA), stated that the record high production of oil, natural gas, and natural gas liquids (NGLs) in Texas in 2023 has solidified the state as a "global energy leader." Staples made this assertion in a TXOGA press release dated March 26.

"Texas' new production and export milestones continue to highlight the Lone Star State's role as a global energy leader, showcasing that energy leadership starts–and should stay–in Texas," said Staples, Texas Oil & Gas Association President. "In the face of global instability and ever-increasing demand for energy and the products that make modern life possible, Texas remains committed to delivering the affordable, reliable oil and natural gas that our state, nation, and world need."

According to the Energy Information Administration (EIA), Texas achieved several record-breaking milestones in energy production in 2023. These include producing 5.5 million barrels per day (mb/d) of crude oil, 3.3 mb/d of NGLs, and 29.0 billion cubic feet per day (bcf/d) of natural gas, according to Dean Foreman, Ph.D., Chief Economist at TXOGA. December 2023 was particularly notable for Texas' energy sector with record NGL exports reaching 2.4 mb/d and significant natural gas production and consumption. The state exported over $221 billion worth of oil, gas, and products that year.

"Texas’ strong performance across the energy value chain has meant that U.S. energy increasingly depends on our state," said Foreman in the TXOGA news release. "Ample production has replenished oil and natural gas inventories and kept downward pressure on consumer prices despite solid domestic consumption and record-highs for oil and natural gas exports. It’s a remarkable productivity narrative."

The TXOGA is a statewide trade association representing the Texas oil and gas industry as per information on its website. In FY2023, the Texas oil and natural gas industry supported over 480,000 direct jobs and contributed $26.3 billion in state and local taxes.