AUSTIN, Texas (July 30, 2020)—COVID-19 as a global economic event ravaged energy markets starting in March 2020, and the resulting economic lockdown and deep contraction in energy demand dealt a gut-punch to the Texas oil and gas industry which continues midway through the year. The Texas Alliance of Energy Producers’ Texas Petro Index (TPI), a cyclical measure of the health and vitality of the upstream oil and gas economy in Texas, chronicled that contraction, posting a one-month record decline in April and recording the continued fall in activity levels through June.