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Permian Basin Economic Indicators

 

Economic Impact: Permian Basin's Oil & Gas Industry

Study completed by Texas Tech University

 

Texas Permian Basin Petroleum Index:

 

Texas Permian Basin Petroleum Index

Oil and Gas Indicators

January 2017

Base Year

January 1996

Last Year

January 2016

This Year

January 2017

% Change

2016-2017

Oil Price/bbl (Mo. Avg WTI Crude) $17.31 $28.44 $49.25 73.2%
Oil Price/bbl (YTD Avg) $17.31 $28.44 $49.25 73.2%
Gas Price (Waha Hub Mo Avg) * $1.92 $2.21 $3.17 43.4%
Gas Price (YTD Avg) $1.92 $2.21 $3.17 43.4%
Rig Count (Month) 75 171 235 37.4%
Rig Count (YTD Avg) 75 171 235 37.4%
Drilling Permits (Month) 318 255 487 91.0%
Drilling Permits YTD 318 255 487 91.0%
Oil Completions (Month) 185 442 244 -44.8%
Oil Completions YTD 185 442 244 -44.8%
Gas Completions (Month) 71 21 5 -76.2%
Gas Completions YTD 71 21 5 -76.2%
Oil Production Volume (000's bbls/month) 28,182 47,337 49,212 4.0%
Oil Production Volume YTD 28,182 47,337 49,212 4.0%
Oil Production Value (000's Month) $487,830 $1,346,249 $2,423,691 80.0%
Oil Production Value YTD $487,830 $1,346,249 $2,423,691 80.0%
Gas Production Volume (000's MCF/month) 127,679 158,737 166,304 4.8%
Gas Production Volume YTD 127,679 158,737 166,304 4.8%
Gas Production Value (000's Month) $245,144 $350,810 $527,183 50.3%
Gas Production Value YTD $245,144 $350,810 $527,183 50.3%
Oil and Gas Employment (Month) 10,205 27,805 27,090 -2.6%
Oil and Gas Employment (Avg YTD) 10,205 27,805 27,090 -2.6%
Oil and Gas Regional Stock Index 100.0 1,019.8 1,297.5 27.2%
INDEX (Base = 100 January 1996)                    100.0 232.4 223.3 -3.9%

** Based on monthly stock prices for Clayton Williams Energy, Inc (CWEI), Dawson Geophysical Company (DWSN), Patterson-UTI Energy, Inc., (PTEN), and Concho Resources (CXO)