It has been nearly two years since the last peak in the Texas Petro Index (TPI), a barometer of oil/natural gas industry activity in the Lone Star State, and in August the TPI marked its 21st consecutive month of decline. But there are signs of an industry comeback.
Ingham
Articles from Ingham
Texas Upstream Job Losses Exceeding Earlier Estimates
Every component of the Texas Petro Index (TPI) was down again in September — except for crude oil and natural gas production volumes. And the economist who compiles the TPI warned that industry job losses could be even greater than his previous estimates.
NGI The Weekly Gas Market Report
Rigs Continue Decline; Texas Feels The Pain
It used to be that about half of the operating drilling rigs in the United States were doing their thing in the Lone Star state. Texas only accounts for about 44% of the total now, according to Baker Hughes Inc., and Texas energy payrolls are in steep decline, too.
Texas Petro Index Charts Second Consecutive Monthly High
Robust crude oil production in August lifted the Texas Petro Index (TPI) to its second consecutive monthly record while the state’s oil and gas industry charted a new record as well. But a downturn in the number of drilling permits issued suggests that things might slow in the months ahead, an economist said.