Texas producing more oil than any month on record

Texas is producing oil at a historic rate.

In Texas, the oil boom is in full swing.

The state is pumping more oil daily than it has at any time since 1981, the first year in which federal data was collected. In September, the most recent month for which there are statistics, 2.7 million barrels of crude were produced per day, a 30 percent increase over the same period last year.

The industry had been in decline for decades in the Lone Star state. Then, technological advancements opened up all new regions to oil and natural gas activity. Deep, dense rock formations, such as the Eagle Ford Shale and the Permian Basin, were once not economically viable for drilling. Now, advances in gas well deliquification and artificial lift production have made these geographic formations candidates to supply consistent sources of energy. 

Now, Texas is once again a major global player in the oil industry, joining countries like Venezuela, Kuwait and Nigeria as top-15 producers worldwide. Mark Perry, a professor at the University of Michigan's School of Management underscored how spectacular this rise is. 

"Output in America's No. 1 oil-producing state — Texas — continues its phenomenal, meteoric rise," Perry wrote on his blog. "That production surge has to be one of the most significant increases in oil output ever recorded in the U.S. over such a short period of time."

Not only can increased well activity keep millions warm at night, it could also lead to more powerful global footing for the country: surging production has encouraged talk of energy independence. The Energy Information Administration predicts the U.S. will pass Saudi Arabia and Russia this year to become the world's top producer of oil and natural gas combined.