09272020Sun
Last updateWed, 23 Sep 2020 9pm

End-User News

Texas Upstream Oil, Gas Industry Endures Brutal Downturn

On July 30, Texas Alliance of Energy Producers executive vice president & petroleum economist Karr Ingham presented the 2020 Midyear Texas Petro Index update, saying “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, 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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