Texas about to set 12-month crude oil production record

Last June, AT predicted “Texas will hit a monthly production level of 3.45 million barrels per day [MMbpd] by December 2014, meaning that 2015 will set a new annualized production record for the state.”

According to the U.S. Energy Information Administration, field production of crude oil in Texas hit 3.49 MMbpd in December – right on the projection.

The latest data has March production at 3.68 MMbpd and still rising.

The 12-month record for Texas oil production was set in 1972 at 3.45 MMbpd.  The last 12 months has seen Texas average 3.34 MMbpd.

Even if production stabilizes, or falls slightly, Texas will set a new all-time 12-month crude oil production record of 3.5 MMbpd within the next three months.