The Texas Alliance of Energy Producers is an organization based in Austin, TX that focuses on the oil and gas industry in Texas. They provide valuable insights and analysis on the state's energy production, including the Texas Petro Index, which tracks the performance of the upstream oil and gas sector. Despite recent declines in drilling activity, the Alliance reports that Texas crude oil production has reached record levels in the first half of 2023, fully recovering from the COVID-related declines in 2020.
The organization also highlights the challenges faced by the industry, such as lower crude oil prices and declining drilling activity. However, they remain optimistic about the future, citing the potential for a more bullish crude oil price environment in the second half of the year. The Texas Alliance of Energy Producers plays a crucial role in providing information and insights to industry professionals and stakeholders in the Texas oil and gas sector.
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