Texas has reached new record highs in oil, natural gas, and natural gas liquids (NGLs) production, according to the Texas Oil & Gas Association's (TXOGA) latest energy economic analysis. The report, prepared by TXOGA Chief Economist Dean Foreman, Ph.D., highlights significant increases in production for October 2024.

The Energy Information Administration (EIA) reported that marketed natural gas production hit a record of 33.6 billion cubic feet per day (bcf/d) in August, with TXOGA estimating an even higher output of 33.8 bcf/d in October. Additionally, crude oil production was recorded at 5.8 million barrels per day (mb/d), NGLs at 3.85 mb/d, and petroleum refined products at 4.5 mb/d.

TXOGA President Todd Staples said, "Abundant energy resources, world-leading infrastructure, and a strong business climate continue to deliver unmatched results making Texas a remarkable energy leader." He emphasized the importance of science-based regulation and market access in supporting Texas' energy industry.

Foreman noted that Texas' oil and natural gas production continues to exceed expectations. He highlighted the state's record high exports of refined products in August as particularly noteworthy.

For October 2024, TXOGA estimates place crude oil production at 5.7 mb/d and natural gas marketed production at a record 33.8 bcf/d. The state accounted for 43% of U.S. crude oil and 29% of U.S. natural gas marketed production for the year-to-date through October.

In August alone, Texas produced 28.1 bcf/d of dry natural gas while exporting significant volumes to Mexico and as liquefied natural gas (LNG). Energy exports from Texas reached $154.3 billion through August, on track to exceed $230 billion for the year.