Texas oil producers paid $694 million in production taxes to the state. This is according to the Comptroller’s data in July. The highest monthly collection on record are up 84% percent from July 2021. Natural gas production taxes paid also reached a record high in July at $532 million. Moreover, it was up 185 percent […]
Oil prices rises to about $2 on Monday, bolstered by supply fears, a dip in the U.S. dollar, and early strength in equity markets, but prices seesawed as some worried fuel demand could weaken if the Federal Reserve raises U.S. interest rates too aggressively. Brent crude futures for September settled up $1.95, or 1.9%, at […]
“As expected, the dip in May upstream employment appeared to be an anomaly. June numbers reflect continued demand for talent and increasing exploration and production activities in the Texas oil and natural gas industry,” said TIPRO’s President Ed Longanecker. TIPRO, which obtains its employment data from the U.S. Bureau of Labor Statistics, also noted that […]
Oil and gas in New Mexico continued to make up a large portion of the state economy. This includes their bottom line. Most of the industry is confined to a rural, two-county area in the state’s southeast corner. Operations in Eddy and Lea counties in southeast New Mexico’s Permian Basin oilfields accounted for almost a […]
The number of active oil and gas drilling rigs in the United States rose by four this week and 272, or 56%, in the past year to the highest point since March 2020, an increase that comes even as oil demand — and by extension, gas prices — has abated slightly since last month. The […]
Tuesday’s oil prices bounce back might go down as one of the most memorable moments of the oil market’s tumultuous year of 2022. Despite being the third-largest daily loss since the onset of oil exchanges, declining crude did not trigger any changes along the futures curve, implying that the huge drop was primarily coming from […]
Oil and gas revenues added more than $1.7 billion to New Mexico coffers in the first four months of the year — more than in any other four-month period in state history. A lot more. Records compiled by the New Mexico Tax and Revenue Department show that year-on-year, revenues from January through April more than doubled […]
AUSTIN – Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas production industry. This is following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. “Comptroller Hegar’s announcement reinforces the fact that oil and gas literally fuel every facet of our lives. This is despite President […]
There is a $1.9 billion merger last week. It’s between two Permian Basin oil and gas companies that own more than 100,000 acres in the region. It actually spans southeast New Mexico and West Texas. Desert Peak Minerals and Falcon Minerals announced their plans to combine in January. This will bring the new company’s holdings […]
The top oil producer in the world in 2021 was the United States. The U.S. has an output of 16.58 million barrels per day. This is according to BP’s latest annual statistical review of world energy. Let’s talk more about the Oil and Gas performance in 2021 and how the U.S came on top. The figure […]
