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North
Texas
Energy
Outlook
What’s inside...
By simple statistics the success of the Texas oil and gas
production and energy industry is staggering.
• Texas is the number one state in crude oil production
as of June 2014 with 92,215 (thousand barrels), far ahead
of its closest rival state, North Dakota at 32,779.
• As of January 2013, the 27 petroleum refineries in Texas
had a capacity of over 5.1 million barrels of crude oil per day
and accounted for almost 29 percent of total U.S. refining
capacity.
• Texas accounted for about 29 percent of U.S. marketed
natural gas production in 2013, making it the leading natural
gas producer among the states.
• Texas leads the nation in wind-powered generation
capacity with more than 12,000 megawatts; in 2013 Texas
generated almost 36 million megawatthours of electricity
fromwind energy. It is the number one electricity generation
state as of June 2014 at 39,498 (thousand MWh).
• West Texas Intermediate (WTI), a grade of crude oil
produced in Texas and southern Oklahoma , is traded in
the domestic spot market at Cushing , OK , where it serves
as a benchmark for oil pricing.
• 82.5 percent of Texas counties currently report oil
production and 73.6 percent produce natural gas.
Texas oil production topped three million barrels per day
in May 2014, which according to the U.S. Energy Information
Administration, is as much oil as all of Europe produced.
Texas is on track to be producing 3.4 million barrels per
day by the end of 2014, a rise of one million barrels a year
ago.
• If Texas were a sovereign nation, it would be the world’s
tenth largest oil producer.
Here is how the state compares to other oil producing
countries based on barrels per day record in March.
Russia, 10.1 million
Saudi Arabia, 9.7 million
United States, 8.2 million
China, 4.1 million
Iran, 3.2 million
Iraq, 3.3 million
Texas, 2.9 million
Kuwait, 2.6 million
Venezuela, 2.3 million
Brazil, 2.1 million
By the numbers...
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Information from the Texas Railroad Commission and U.S. Energy
Information Administration