Christi Craddick Salutes Texas Producers As Statewide February 2014 Oil Production Hits Historic Highs of Two Million Barrels a Day
AUSTIN – Today, February 2014 production reports from operators to the Railroad Commission show oil production has reached a record 2 million barrels a day statewide, a production level not seen in Texas since 1986, Commissioner Christi Craddick said.
Preliminary production numbers for February 2014 indicate statewide oil production was 2,002,070 barrels a day, which includes Permian Basin production of more than 1 million barrels a day.
“This is a milestone production level for Texas not seen in 28 years, and this is the direct result of conditions unique to Texas’ energy environment,” Craddick said. “The Railroad Commission’s leading regulatory structure and Texas’ stance on sensible business regulations that promote confidence in our economy among businesses have allowed for the environmentally responsible production at these immense levels that we are seeing today. Our state is blessed with vast mineral resources, and I am confident that the future will only continue to grow brighter.”
Texas is the largest oil producer in the nation, producing about 36 percent of the nation’s crude oil — three times more than any other state, according to the latest monthly figures from the U.S. Energy Information Administration.
“Texas must have the ability to continue to drive the nation toward energy independence,” Craddick said. “Now more than ever, we must stand strong against interfering policies directed to allow the federal government to be in control of our oil and gas industry.”