Tag Archive for: oilandnaturalgas

The Texas oil and natural gas industry employed 495,501 people in 2025, according to TXOGA's 2025 Energy and Economic Impact report.

TXOGA: Texas oil and gas employment topped 495,000 in 2025

The Texas oil and natural gas industry directly employed 495,501 people in 2025, according to the Texas Oil & Gas Association’s (TXOGA) newly released 2025 Energy and Economic Impact report. TXOGA said the largest job categories included oilfield support services, convenience-store gasoline retail, and pipeline-related construction. Other sizable segments included crude production and oilfield machinery and equipment manufacturing.

TXOGA also estimated that each direct industry job supports roughly two additional jobs elsewhere in the state, for about 1.4 million total jobs tied to the sector across the Texas economy. The report said oil and gas employers paid an average of $133,095 per job in 2025, and that combined state and local taxes plus state royalties attributed to the industry totaled $27.0 billion (about $74 million per day). For broader context on Texas output trends referenced in the report, see Texas production and export records, and for investors looking to understand cash-flow mechanics, how oil and gas royalties work.

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Crude oil output reached an estimated 5.9 million bpd in November, the highest level ever recorded in US history, according to U.S. EIA data.

Texas leads the charge as America sets new oil and natural gas records

The U.S. oil and natural gas industry set oil and natural gas production records in November.

Crude oil output reached an estimated 5.9 million barrels per day in November, the highest level ever recorded in U.S. history, according to U.S. Energy Information Agency data.

“Even with fewer rigs operating this year, productivity gains in regions like the Permian Basin and Eagle Ford Shale show the efficiency and innovation of Texas producers,” the Texas Oil & Gas Association states in a new quarterly perspective.

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Source: The Dallas Express

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Evolution Petroleum Corporation is acquiring non-operated oil & gas assets in NM, TX, LA for $9M, subject to customary closing adjustments.

Evolution to acquire oil, gas assets in 3 states for $9M

Evolution Petroleum Corporation said it is acquiring non-operated oil and natural gas assets in New Mexico. Also in Texas, and Louisiana for a total purchase price of $9 million, subject to customary closing adjustments. Evolution to acquire oil? Read more.

The acquisition is expected to close by the end of Evolution’s third quarter of fiscal 2025. This is with an effective date of February 1, 2025, the company said in a news release.

Evolution said the acquisition expands its asset portfolio with approximately 440 barrels of oil equivalent per day (boepd) of net production. It consists of a balanced commodity mix of 60 percent oil and 40 percent natural gas. It has the the acquired assets primarily being low-decline.

The portfolio consists of approximately 254 gross producing wells across all regions, and the assets will be managed by a top-tier private operator, “ensuring operational efficiency and the ability to maximize value,” Evolution said.

The Acquisition

<p>The company said it intends to finance the acquisition through a combination of cash on hand and borrowings under its existing credit facility.<p>Evolution President and CEO Kelly Loyd said, “This acquisition marks our seventh such transaction in the last 6 years and is another step forward in strengthening our production base – aligns with our disciplined growth strategy by adding high-quality, low-decline production at an attractive valuation, estimated at ~2.8x NTM2 Adjusted EBITDA which doesn’t include any incremental cash flows for upside opportunities. These assets complement our existing portfolio and enhance our ability to generate stable free cash flow, which supports our long-standing commitment to returning capital to shareholders. We see additional upside through reactivations of existing waterfloods and through operational efficiencies, which will further enhance long-term value”.

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Source: Rigzone

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