Texas achieved record natural gas and oil production in 2023 despite lower prices for both commodities, falling rig counts, and fewer drilling permits issued versus 2022, said the Texas Alliance of Energy Producers. 

The group, which represents the state’s independent exploration and production (E&P) firms, said its Texas Petro Index (TPI) fell in December for the 11th straight month to 154.4, down 13.4% year/year.

The TPI is a monthly measure of growth rates and cycles in the state’s upstream oil and gas economy, based on indicators including wellhead commodity prices, drilling permits, well completions, production and employment. 

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