Still, he forecast that oil production in both Texas and the United States as a whole will break the previous records. For the Lone Star State, Ingham predicted total production of 1.423 billion barrels this year, or around 3.9 million BPD, beating its previous record of 1.263 billion barrels (3.46 million BPD), set in 1972.

https://www.usatoday.com/story/money/energy/2018/01/30/texas-set-an...

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Cost Depletion: A Valuable Tax Deduction for Royalty Owners

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