This article is over 5 years old


Texas Oil Producers Expect Record In 2018

The Texas Alliance of Energy Producers released its ‘petro index’


Karr Ingham, petroleum economist with the Texas Alliance of Energy Producers, presents the Texas Petro Index at the Petroleum Club of Houston on Tuesday, Jan. 23.

After a recovery year for the state’s oil and gas industry, 2018 promises to be record-breaking.

That’s according to Karr Ingham, economist with the Texas Alliance of Energy Producers. He created the Texas Petro Index, which measures the state of the oil economy based on different factors, such as employment, rig count and the price of oil.

In December 2017, most indicators were up from a year ago, and Ingham expects oil production to surpass the previous record year of 1972, when Texas producers extracted 1.263 billion barrels of oil.

“I don’t see how we don’t break this record in 2018,” Ingham said on Tuesday.

And this with about half as many oil rigs in operation as in November 2014, shortly before the price of oil tanked – but also with a smaller workforce.

After two years of layoffs, many oil jobs have come back, but Ingham doesn’t expect all of them to return anytime soon.


To embed this piece of audio in your site, please use this code:

<iframe src="" style="height: 115px; width: 100%;"></iframe>

Today in Houston Newsletter Signup
We're in the process of transitioning services for our Today in Houston newsletter. If you'd like to sign up now, fill out the form below and we will add you as soon as we finish the transition. **Please note** If you are already signed up for the newsletter, you do not need to sign up again. Your subscription will be migrated over.