The Texas Petro Index (TPI), an indicator of upstream oil and gas activity in Texas, increased modestly but steadily during the first half of the year, beginning July a scant 1.2% from matching the peak index achieved nearly five years ago, according to data released last week. "Midway through 2013, the Texas oil and gas exploration and production economy is enjoying stability at a high level of activity, modest increases in aggregate activity levels, and impressive employment growth," said Karr Ingham, the econo- mist who created the TPI and maintains it monthly. "The industry continues to provide fuel to statewide economic growth, and at this point all signs are pointing to a continu- ation of those trends through the balance of 2013."
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