Chairman Craddick Highlights Dynamics of Texas Oil and Gas Industry at Eagle Ford Consortium Conference
SAN ANTONIO, TX Railroad Commission of Texas Chairman Christi Craddick delivered keynote remarks at the Fourth Annual Eagle Ford Shale Consortium Conference in San Antonio. Her remarks addressed the current state of the Texas oil and gas industry and provided insight into what may lie ahead in one of Texas' top shale developments. At the meeting, stakeholders from the Eagle Ford Shale region discussed the fluidity of world energy prices and response strategies for a slowed market.
"As Texas oil and gas production remains high, we have learned that the price of oil is not the only factor driving the market," Craddick said. "When prices are down, innovation thrives. Companies are shifting, diversifying and becoming more efficient. New techniques in mineral recovery are being developed, wells revisited and production is increasingly more effective. Mineral resources of all kinds are valued and sold for multiple purposes in an all-of-the-above energy approach to fulfilling our state's energy needs.
"Texas' prime production conditions have provided an environment well-suited for a dynamic, thriving oil and gas industry. Today, Texas continues to drive America's competitiveness in the world's oil market and ultimate independence from OPEC."