Texas Oil and Gas Decline in August
The RRC data is always incomplete but if this month’s incomplete data is less than last month’s incomplete data then that’s a pretty good indicator that production this month is down.
The EIA data here is only through July. They have Texas production peaking in March at 3,644,000 barrels per day and declining by 197,000 bpd to 3,447,000 bpd in July.
Dr. Dean Fantazzini has Texas peaking in March also, at a slightly lower point than the EIA but they both pretty much in agreement by July.
Texas crude only, when the final data comes in, will show the peak in March.
Dean’s algorithm still has crude only peaking in March but holding on a plateau since then.
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