To highlight the unprecedented contributions of the Texas oil and natural gas industry from an economic and energy security perspective, the Texas Independent Producers & Royalty Owners Association (TIPRO) and member executives will open the Nasdaq Stock Market in New York City on Wednesday, November 6, 2024.
“Texas continues to break production records thanks to our abundant resources, pro-business environment and the hundreds of thousands of men and women that make that reality possible day in and day out,” commented Grant Johnson, chairman of TIPRO and president of Lone Star Production Company. “TIPRO is honored to showcase our members, association and industry on Nasdaq’s global platform,” affirmed Johnson.
“The hardworking men and women of the energy sector are the lifeblood of our economy,” said Texas Governor Greg Abbott. “Thanks to our oil and gas industry, Texas leads the nation in energy production and provides nearly 25 percent of the country’s domestically produced energy. I congratulate TIPRO on ringing the Nasdaq opening bell, and I thank them for their continued work to propel Texas’ robust energy industry on the global stage. As the energy capital of the world, Texas will always fight for our oil and gas producers and the hundreds of thousands of Texans they employ.”
TIPRO’s opening bell ceremony is the fourth time the association has participated in a Nasdaq market event to promote the Texas oil and natural gas industry on the global platform. The event serves as an example of TIPRO’s comprehensive industry communication strategy to educate the general public about the importance of domestic production to meet growing energy demand and the many other contributions provided by the industry.
The state of Texas continues to lead the country in all aspects of the energy sector. In 2023, the Texas oil and natural gas industry supported 2.9 million direct and indirect jobs and the nation’s highest number of related businesses (23,315) than any other state. Last year, the direct Gross Regional Product for the Texas oil and natural gas industry was $381 billion, and these Texas businesses purchased U.S. goods and services in the amount of $288 billion supporting virtually every industry sector in the state. Additional details about the economic impact of the U.S. and Texas oil and natural gas industry can be found in TIPRO’s 2024 State of Energy Report here.
“As the leading statewide association representing the upstream sector in Texas, TIPRO remains focused on promoting the unmatched economic impact of our industry and advancing policies that support the responsible development of oil and natural gas and our ability to fully capitalize on these extraordinary resources,” said Ed Longanecker, president of TIPRO. “We are pleased to return to Nasdaq to promote and celebrate American energy security, fueled in large part by the great state of Texas,” added Longanecker.
“TIPRO is an important voice in the Texas energy industry, and we are proud to welcome the association and its executive members back to MarketSite to ring the bell for the fourth time. This is a testament to the strong relationship between Nasdaq and the oil and gas industry in the state of Texas which we have built over the long term,” said Rachel Racz, senior vice president, head of listings for Texas, Southern U.S. and Latin America at Nasdaq. “We look forward to the future as we continue to build our team and invest in our relationships in the region, including our decade-long one with TIPRO.”
The TIPRO-Nasdaq opening bell ceremony can be viewed live starting at 8:20 a.m. Central Time on Wednesday, November 6, 2024. To watch the event online, visit: https://www.nasdaq.com/marketsite/bell-ringing-ceremony.
About TIPRO
The Texas Independent Producers & Royalty Owners Association (TIPRO) is a trade association representing the interests of nearly 3,000 independent oil and natural gas producers and royalty owners throughout Texas. As one of the nation’s largest statewide associations representing both independent producers and royalty owners, members include small businesses, the largest, publicly-traded independent producers, and mineral owners, estates, and trusts.
