The TPI tracks metrics such as price, rig count, drilling permits, well completions and employment. The Texas Alliance of Energy Producers revealed this week that its Texas Petro Index (TPI) – a cyclical measure of the health and vitality of the state’s oil and natural gas economy – shows that exploration and production activity fell for the 19 th straight month in September. However, the organization stated the TPI also reflects potential early signs of recovery on the horizon. “The Texas Petro Index shows that the upstream oil and gas economy in Texas was in a state of contraction for virtually all of 2019 and early 2020 even before COVID came along,” Karr Ingham, petroleum economist with the Texas Alliance of Energy Producers and the TPI’s creator, remarked in a written statement emailed to Rigzone. “But the downturn obviously sharpened in March of this year as the rapid demand […]