We already have statewide regulation of oil production in the Railroad Commission. The Denton ban was likely illegal anyway. But this will put a bunch of messy and expensive litigation to rest. The only real losers are the lawyers and the Russians (who everybody hates) and people who regret selling their mineral rights too cheaply (or bought land without them).
More directly on topic, there is evidence that injection wells may cause earthquakes. That's totally different from fracking. But if you look at most of the articles with headlines about fracking and earthquakes, they're really talking about injection wells.