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Tribune News Service
Tribune News Service
Business
Mitchell Schnurman

Texas oil patch gears up for more growth and spending with the Permian leading the way

What a difference a few years make in the Texas oil patch.

Oil and gas production keeps growing, the sector has been adding jobs at a torrid pace, and most companies have been investing more.

In a December survey by Federal Reserve Bank of Dallas, almost two-thirds of oil and gas executives reported an increase in capital spending compared with a year earlier — and almost two-thirds expect to increase spending in 2023.

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