Petro Index: Texas E&P Gaining Strength

摘要

With natural gas prices remaining sluggish and no end in sight, crude demand has been behind a steady E&P rebound in Texas. According to the Texas Petro Index, the Lone Star State's upstream oil and natural gas economy grew steadily throughout 2010 becoming a key job creation engine for the state. The report was released last week in Houston during a media briefing. Created for the Texas Alliance of Energy Producers by economist Karr Ingham, the Petro Index is a composite based on a variety of upstream indicators such as well completions and the number of rigs. It was started in January 1990 to give a snapshot of the industry over a year.