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Texas sales tax revenue reached $4.62B in August 2026, rising 7.1% year over year and boosting state funding.

Texas oil production tax revenue rises 18% in August 2026

Texas collected $4.62 billion in state sales tax revenue in August 2026, according to figures reported by Comptroller Don Huffines. The total was 7.1% higher than in August 2025. Because most August remittances represent purchases made during July, the results provide a recent measure of business and consumer activity across the state.

Collections increased across major industries connected to business spending, with construction and mining producing particularly strong results. Manufacturing receipts were 5.2% higher than a year earlier, while wholesale trade collections rose 1.7%. Consumer-focused categories also recorded gains: retail receipts increased nearly 10%, online shopping remittances surpassed the prior-year total by more than 20% for a second consecutive month, service-sector collections grew 8.2%, and restaurant receipts advanced 3.8%.

Through August, Texas had collected $35.2 billion in sales tax during the calendar year, 7.3% more than during the corresponding period in 2025. Sales tax generates 58% of the state’s overall tax collections, making these figures important to Texas budget conditions.

Energy-related revenue also increased: collections from oil and natural gas production taxes totaled $526 million and $202 million, respectively, representing annual gains of 18% and 4%.

Source: MyHighPlains.com

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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
U.S. strikes on Iran-linked sites near Hormuz raise shipping risks, pushing oil above $90 and gas to 2023 highs.

U.S.–Iran strikes lift oil prices above $90

U.S. forces carried out another series of strikes on September 1 against sites associated with Iran’s Islamic Revolutionary Guard Corps near the Strait of Hormuz. U.S. Central Command said the completed operation targeted air-defense and radar networks, maritime assets, mine-deployment capabilities and communications facilities following attempted attacks on commercial vessels and American personnel. President Donald Trump said the action also responded to Iranian efforts to place mines in the waterway and an earlier attack on a U.S. base. Iran subsequently reported launching missiles and drones toward American bases in the region, including a facility in Jordan.

The exchange returned market attention to shipping conditions through the Strait of Hormuz, where oil movements had recovered to approximately half of their prewar level during the preceding period of reduced military activity. West Texas Intermediate crude moved above $90 per barrel, while benchmark European natural-gas futures reached their highest level since January 2023. Bloomberg also reported that oil had gained more than 45% during 2026. Two supertankers attempting to leave the strait had been struck by projectiles one day earlier, although responsibility was not established. The developments illustrate how Hormuz shipping conditions and other factors affecting oil prices can influence energy costs, supply expectations and investor attention.

Source: Bloomberg
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
U.S. Energy Secretary Chris Wright visited Midland, highlighting the Permian Basin’s major role in boosting U.S. domestic energy production.

Energy secretary highlights Permian growth during Midland visit

U.S. Energy Secretary Chris Wright visited Midland, Texas, as part of the Great American Energy Comeback Tour, highlighting the Permian Basin as a major contributor to domestic energy production. Wright toured an ExxonMobil drilling site and met with industry leaders to discuss production, technology and the region’s role in U.S. energy policy. Permian oil output has grown from roughly 900,000 barrels per day in 2010 to more than 6.5 million barrels per day, representing nearly half of current U.S. oil production.

Natural gas production in the basin has expanded as well, rising from about 4.5 billion cubic feet per day in 2010 to approximately 28 billion cubic feet per day. The growth reinforces the importance of continued investment in drilling technology, processing, transportation and Permian natural gas takeaway capacity. Wright also indicated that federal officials are preparing measures intended to encourage additional fuel production from U.S. refiners, placing domestic oil, natural gas and refining capacity at the center of current energy policy discussions.

For energy markets and investors, the Midland visit highlights the scale of the Permian’s contribution to U.S. supply and the continuing policy attention surrounding the infrastructure and operating capacity needed to support production.

Source: The Texan
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Citigroup analysts expect Permian natural gas production to grow enough for the region to become the largest U.S. gas basin by 2030.

Permian could lead U.S. natural gas production by 2030

Citigroup analysts expect the Permian Basin’s natural gas production to continue expanding enough for the region to become the largest U.S. gas-producing basin by the end of the decade. The West Texas and southeastern New Mexico basin could surpass the Marcellus, which has held the top position since 2012. Citi analyst Scott Gruber said the Permian could take the lead as early as 2030, depending partly on oil prices.

Much of the Permian’s natural gas is produced alongside crude oil, meaning production levels are influenced heavily by the economics of oil development rather than natural gas prices alone. This dynamic could alter U.S. gas supply patterns as Permian output grows. Citi noted that additional supply from the region may reduce how much gas-focused areas such as the Haynesville need to increase production as LNG exports, data centers and other sources of demand expand.

Pipeline capacity remains an important part of the outlook. Permian gas production exceeded available takeaway capacity at times during 2026, contributing to regional pricing dislocations. Several new infrastructure projects have secured financing, including developments designed to expand Permian natural gas takeaway capacity. Added pipeline access could help move growing volumes toward Texas and Gulf Coast markets as the basin’s role in U.S. natural gas supply increases.

Source: Bloomberg
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Texas Railroad Commission commissioners unanimously elected Christi Craddick as chairman of the three-member commission.

Christi Craddick selected to chair Railroad Commission of Texas

The three members of the Railroad Commission of Texas unanimously elected Commissioner Christi Craddick to chair the agency. Craddick, who has held the position before and has served since winning statewide office in 2012, succeeds Jim Wright as chairman. Wright will remain a commissioner alongside Wayne Christian, another former chair.

The commission is Texas’ primary regulator for oil and natural gas exploration, production, and transportation. It also oversees pipeline safety, natural gas utilities, critical energy infrastructure, and surface coal and uranium mining. Craddick’s tenure has included efforts to modernize agency operations, broaden transparency, and maintain a predictable framework for responsible development, including technology investments and expanded work on orphaned wells.

Her priorities have also included upgrades to the commission’s information technology and geographic information systems, intended to improve public access to regulatory data and shorten inspection and permitting timelines. For operators, mineral owners, and investors following Texas oil and gas regulation and broader Texas energy activity, leadership at the three-member commission is important because its decisions shape permitting, compliance, infrastructure safety, and access to industry data.

Source: Rigzone
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Continental Resources agreed to acquire FireBird Energy II, adding 54,000 net acres and 32,000 boe/d of production.

Continental adds FireBird assets in Midland Basin acquisition

Continental Resources announced on August 20 that it has agreed to acquire FireBird Energy II, adding approximately 54,000 net acres in the Midland Basin and about 32,000 barrels of oil equivalent per day of production. Oil represents roughly 69% of the acquired output. The asset package includes approximately 147,000 net resource acres across more than six stacked-pay reservoirs and 307 gross operated development locations, with Continental expected to operate about 95% of the acquired acreage. Financial terms were not disclosed.

The transaction is expected to close in September and would bring Continental’s Permian acreage growth to more than 40% over a 14-month period. CEO Doug Lawler said the acquired inventory and its proximity to the company’s existing operations support the Permian’s role in Continental’s portfolio. A larger, more connected position can help operators drill longer laterals, consolidate infrastructure and coordinate development across a broader inventory. For readers following Permian Basin acquisition activity, the deal adds immediate production as well as hundreds of future operated drilling locations in the Midland Basin.

Source: OilPrice.com
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
APA Corp. raised its 2026 US oil production forecast to 123,000 bpd from 122,000 while keeping planned domestic capital spending at $1.3B.

APA raises 2026 U.S. oil outlook on Permian efficiency

APA Corp. raised its 2026 U.S. oil production forecast to 123,000 barrels per day from 122,000 while keeping planned domestic capital spending at $1.3 billion. The revision followed second-quarter oil production of nearly 123,500 b/d in the Permian Basin, about 2% above management’s estimate and broadly consistent with the prior year. APA holds 159,000 net acres in the Delaware Basin and 287,000 net acres in the Midland Basin.

Combined production from the Permian, Egypt and the North Sea totaled 410,000 barrels of oil equivalent per day, compared with approximately 465,000 boe/d a year earlier. The difference reflected natural gas and international volumes, including partner volumes in Egypt. Chief Executive John Christmann said improvements in drilling, completions and field operations are increasing reliability and supporting a goal of $3.5 million in monthly operating savings by year-end. Management believes its Permian inventory can sustain steady production for more than a decade.

APA also plans to maintain broadly stable production in the Permian and Egypt while investing $230 million this year in the GranMorgu development offshore Suriname, where first oil is targeted for 2028. The project is estimated to contain more than 750 million barrels, with APA’s net production expected to approach 40,000 b/d by 2029. APA reported second-quarter net income of $747 million on $2.4 billion in revenue, providing investors with additional context on its operating performance and future development program.

Source: Oil & Gas Journal
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Devon Energy approves Solitude Pipeline, a joint venture building two gas pipelines from the Permian Basin to Katy, Texas.

Solitude pipeline project advances Permian gas capacity

WhiteWater, Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners have made a final investment decision on the Solitude Pipeline System, which will comprise two 48-inch natural gas pipelines from the Permian Basin to Katy, Texas. The project is backed by multiyear capacity commitments from customers that are largely investment-grade. WhiteWater owns 50% of the venture, Devon 25%, MPLX 10%, and Diamondback and Western Midstream 7.5% each.

The system will be developed in stages, with approximately 2.25 billion cubic feet per day of initial capacity planned for late 2029 and another 2.25 billion cubic feet per day in 2030. That would bring total planned capacity to about 4.5 billion cubic feet per day, with room for later additions based on demand. Initial service is targeted for the second half of 2029, pending customary regulatory and other approvals.

Solitude would provide another long-distance outlet for rising associated natural gas output from the Permian and connect West Texas supplies with the Katy hub and broader Gulf Coast markets. For investors, the contracted customer base supports the project’s economics, while the additional takeaway capacity is relevant to producers and midstream operators preparing for continued regional output and growing Gulf Coast gas demand.

Source: Seeking Alpha
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Permian Basin projects led Helmerich & Payne drilling work as executives remained upbeat amid market volatility.

Permian drilling demand supports Helmerich & Payne activity

Helmerich & Payne reported stronger-than-expected North American drilling activity in its fiscal third quarter, which ended June 30, with the Permian Basin accounting for a significant share of current development work. Industrial Info Resources is tracking more than $3 billion in active and proposed projects involving H&P’s drilling services, with about 75% of that investment value tied to Texas. Devon Energy and Ovintiv together represent roughly two-thirds of the projects in Industrial Info’s database.

Ovintiv accounts for nearly $1 billion of tracked investment through multiple Permian drilling programs. Its plans include at least 55 new wells near Lenorah, Texas, and at least 15 wells near Big Spring by the end of 2026. Devon is also advancing sizable programs, including at least 89 wells near Hobbs, New Mexico, and 10 wells in Loving County, Texas. The continued development highlights the level of oil and gas activity in the Permian Basin.

H&P averaged 142 contracted rigs in North America during the quarter, exceeding the midpoint of its activity expectations. The company reported $1.03 billion in quarterly operating revenue and net income of $75.7 million. Third-quarter capital expenditures totaled $70 million, while H&P maintained its full-year fiscal 2026 gross capital spending guidance of $270 million to $310 million.

Source: Industrial Info Resources
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Iran names Mohsen Rezaee as security chief and demands U.S. concessions before fully reopening the Strait of Hormuz.

Iran sets conditions as Hormuz shipping talks advance

Iran said negotiations with Oman over new shipping arrangements in the Strait of Hormuz were approaching completion, while emphasizing that an agreement with Oman would not automatically lead to a full reopening of the waterway. Tehran has linked broader access to several U.S. actions, including sanctions relief, the release of frozen Iranian assets, changes to maritime restrictions and compensation related to the conflict. Iranian proposals also call for a role in managing vessel entry through the strait.

The discussions remain important for global energy markets because the Strait of Hormuz normally carries about one-fifth of worldwide oil and gas shipments. Progress toward restoring more regular tanker traffic could therefore influence global supply availability, shipping costs and benchmark crude prices. For mineral and royalty owners, the situation is another example of how geopolitics and transportation routes can become important factors affecting oil prices.

Previous efforts to restore normal energy flows through Hormuz have shown that shipping activity may take time to return to established levels even after an agreement is announced. Tanker positioning, insurance coverage, refinery schedules and producer operations can all affect the pace of recovery, as outlined in Ranger’s earlier coverage of the Hormuz reopening and oil supply timeline. Investors and energy-market participants are continuing to watch the negotiations for their potential effect on crude supply and pricing.

Source: Bloomberg

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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.