Texas Alliance Expo & Annual Meeting Kicks Off At MPEC - Newschannel 6 Now | Wichita Falls, TX

Texas Alliance Expo & Annual Meeting Kicks Off At MPEC

Wichita Falls, TX - Over the next couple of days thousands of people will pack into the MPEC in downtown Wichita Falls for the Texas Alliance Expo & Annual Meeting.

The statewide convention consist of independent oil and gas producers. The Texas Alliance is the largest statewide oil and gas association in the country. While Texans represent the majority in attendance, event organizers said producers from all across the country will be in attendance to keep a close eye on how we do business in the Lone Star State. 

The 85th Annual Meeting will consist of more than 300 exhibits. There will also be seminars informing independent producers about the latest requirements from state and federal regulators and about the affects crude oil prices and drilling rig count are having on the Texas economy. 

Alex Mills, President of the Texas Alliance of Energy Producers said industry folks are very interested in these seminars because rig count in the state have dropped by 50 percent since November 2014. 

"Those are important because they hire so many people to build the roads, sell the tubular goods, the drill bits, the drilling fluids, and all those things that go along with drilling the oil and gas rigs," said Mills. 

Karr Ingham, an Economist will be giving a presentation Monday afternoon starting at 3 p.m. that will give an even better look at how this decline is affecting business across the state and in Texoma. 

Mills told Newschannel 6 last summer the state had about 1000 drilling rigs operating, but now there are just shy of 500. He said the decline is due to a law that prohibits producers from exporting crude oil outside of the country. Mills hopes that will change because right now they are only allowed to export refined oils. He said the oversupply in Texas is why drivers are seeing cheaper gas prices, but with cheaper prices those who work in the oil and gas industry have to suffer.

Texas Railroad Commissioner David Porter will be at the conference on Wednesday.He is the keynote speaker for the “Surviving the Downturn' seminar.

For more information on the Texas Alliance Expo & Annual meeting visit texasallliance.org

Jimmie Johnson, Newschannel 6
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