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Drop in energy prices lowers the boom in Texas oil patch

Drop in energy prices lowers the boom in Texas oil patch
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POSTED: Wednesday, August 1, 2012 - 6:00am

UPDATED: Wednesday, August 1, 2012 - 6:14am

Number of active oil and gas rigs in Texas has fallen to 900

The Houston Chronicle is reporting; Falling oil prices halted a 30-month growth spurt in Texas’ oil and gas industry boom in June.

The Texas Petro Index, which has measured job numbers, rig activity, production totals, wells completed and other related figures across nearly two decades, dropped for the first time since a rush to draw oil from shale caused a surge of drilling in Texas. To read more on this story, head to The Houston Chronicle's website: http://fuelfix.com/blog/2012/08/01/drop-in-energy-prices-lowers-the-boom-in-texas-oil-patch/

 

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