Texas Oil Drilling Permits Rose 34% In April

Texas’s energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on May 10, as higher prices continue to spur an increase in activity.

The Railroad Commission of Texas, which regulates the state’s oil and gas industry, issued 1,221 original drilling permits in April, up around 34% from last year.

Oil prices have climbed to near $71 per barrel, its strongest level in nearly three and a half years, aided by production cuts from OPEC and declining supplies from Venezuela.