News

Texas Petro Index: Texas Upstream Oil and Gas Industry Endures Brutal Downturn in 2nd Quarter of 2020

June 2020 Texas Petro Index falls to 157.5, down 24% year-over-year according to the Texas Alliance of Energy Producers

AUSTIN, Texas (July 30, 2020)—COVID-19 as a global economic event ravaged energy markets starting in March 2020, and the resulting economic lockdown and deep contraction in energy demand dealt a gut-punch to the Texas oil and gas industry which continues midway through the year. The Texas Alliance of Energy Producers’ Texas Petro Index (TPI), a cyclical measure of the health and vitality of the upstream oil and gas economy in Texas, chronicled that contraction, posting a one-month record decline in April and recording the continued fall in activity levels through June.

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Testimony by President Jason Modglin at a Railroad Commission Hearing on June 16, 2020

AUSTIN, Texas (June 17, 2020)—Chairman Christian, Commissioner Craddick, and Commissioner Sitton—Thank you for the opportunity to provide comments today regarding flaring and venting.

The Texas Alliance of Energy Producers represents nearly 3,000 individuals and member companies from across Texas with a focus on independent operators. From small family-owned businesses to large publicly traded companies, they are committed to advancing the standards of the domestic oil and gas industry.

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Texas Petro Index Drops Sharply From March to April

Record One-Month Oil and Gas Job Loss and Crude Oil Production Decline

AUSTIN, Texas (June 10, 2020)—The Texas Alliance of Energy Producers’ Texas Petro Index (TPI) dropped steeply from March to April as the state’s oil and gas economy began to register the full effects of COVID-19, the Saudi-Russian price war, and the resulting economic shutdown. The TPI is a monthly measure of growth rates and cycles in the Texas upstream oil and gas economy, based on indicators such as price, rig count, drilling permits, well completions, and employment. The index is based at 100.0 in January 1995.

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Texas Alliance of Energy Producers Names Jason Modglin as New President

AUSTIN, Texas (June 3, 2020)—Boosting its advocacy powers during these historic times, the Texas Alliance of Energy Producers (the Alliance) has hired Jason Modglin as its new President. He brings a wealth of regulatory and legislative experience to the position. For the past decade, Modglin has been at the forefront of the most pressing oil and natural gas policy issues facing Texas and the nation.

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