MIDLAND, TX (Big 2/ Fox 24) – Texas Railroad Commissioner, Ryan Sitton, spoke at the Midland County Republican Women’s luncheon about what he sees in store for the future of the Basin.
Sitton says the outlook for oil and gas in the Basin could be a good one.
“We certainly have opportunities to get better and improve,” Sitton says. “We also worked really hard to be good republicans servants and to drive a thriving economy and open up opportunities for our kids.”
Sitton has served the Texas Railroad Commission for 5 years, and he says his experience there gives him a good idea of how oil and natural gas will fluctuate in the Basin.
“In the 2020 election, I will be the top state official on the ballot, so that means I’m not just railroad commissioner running for office I’m also a big part of the Texas Republican brand and Texan Republicans.”
Sitton says the tensions with Iran can be beneficial to the local oil economy.
“Right now, the commodity prices are up just a little bit because of the tensions with Iran,” he says. “That’s going to mean better our economics for the Midland area. However, I don’t think that’s going to have a massive impact long term because, in the end, what really drives the positives in the Midland economy are the really innovative productions of the Midland operators.”
Sitton says as of this moment, every dollar is being poured back into the economy.
“The West Texas area has gotten more efficient; they’re getting more production out of the ground and better economics out of each well and each dollar spent,” Sitton says. “So right now around the world is people are trying to produce more oil and natural gas the best economies in the world are right here in the state of Texas right here in the midland area.”
Ryan Sitton will be on the Ballot in the Republican primary on March 3.