Texas tea flows: crude production up 22 percent

TEXAS – Crude production in Texas reached an estimated 77.2 million barrels in February 2014 — up 22.4 percent from February 2013. The Texas Petro Index soared to the highest level since 1980, according to economist Karr Ingham.

The value of oil and gas produced in February 2014 totaled $10.63 billion, up rose by more than $2.85 billion from February 2013.

The oil and gas sector averaged about 285,000 people on its payroll in February 2014 — up nearly 5 percent from February 2013.

The Texas Alliance of Energy Producers created the Texas Petro Index in 1995. It combines various metrics to provide an indication of the health and trajectory of oil and gas production in the state.