Tag Archive for: oilproduction

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.
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.
Magnolia Oil & Gas will acquire Houston-based WildFire Energy for $4.06B, boosting its Texas production footprint.

Magnolia expands South Texas position in $4.06B deal

Magnolia Oil & Gas has agreed to acquire Houston-based WildFire Energy in a transaction valued at approximately $4.06 billion, including debt. The purchase will add about 810,000 net acres in the Giddings area, increasing Magnolia’s position there to more than 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine formations. The expanded acreage strengthens the company’s presence in one of the key regions supporting oil production in Texas.

The acquisition also includes more than 500 miles of natural gas gathering pipelines and a sand mine that supplies roughly 80% of Magnolia’s annual sand requirements. Magnolia expects the larger, connected asset base to generate more than $100 million in annual operating efficiencies and cost savings. WildFire’s owners will receive 32.2 million shares of Magnolia Class A stock, while Magnolia will assume $600 million in notes due in 2029.

The agreement reflects continued consolidation within the upstream oil and gas sector as producers seek additional drilling inventory and greater operating scale. Magnolia also increased its quarterly dividend by 9% to $0.18 per share, reported second-quarter production of 106,100 barrels of oil equivalent per day and raised its expected standalone production growth for 2026 from 5% to 6%. The transaction is expected to close late in the third quarter of 2026.

Source: Houston Business 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.
US crude oil production reached an all-time monthly high of 13.934 million barrels per day in April 2026, according to data from the EIA.

U.S. crude production sets new monthly record in April

U.S. crude oil production reached an all-time monthly high of 13.934 million barrels per day in April 2026, according to data from the U.S. Energy Information Administration. Output increased by 216,000 barrels per day from March as producers responded to stronger crude prices earlier in the year.

New Mexico production climbed to a record 2.37 million barrels per day, while Texas output increased by 36,000 barrels per day to 5.83 million. The two states contain the Permian Basin, a major driver of U.S. production. North Dakota also reported higher output, reaching 1.13 million barrels per day, its strongest monthly level since November.

The production milestone highlights the scale and responsiveness of the domestic energy sector. For mineral and royalty owners, production volumes and the broader factors affecting oil prices can influence revenue generated from producing properties. The EIA data also showed that total petroleum products supplied reached 20.81 million barrels per day in April, while finished gasoline supplied rose to an eight-month high of 9.12 million barrels per day.

Source: Hart Energy
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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.
Railroad Commission of Texas (RRC) Commissioner Wayne Christian praised “record port activity” and “rising oil production” in the state.

Texas oil activity gains support from ports and production

Rigzone reported that Railroad Commission of Texas Commissioner Wayne Christian pointed to stronger port activity and higher production as signs of continued momentum for the state’s oil and gas sector. The article highlighted the Port of Corpus Christi’s first-quarter 2026 results, with customers moving 54.5 million tons of commodities through the Corpus Christi Ship Channel, its strongest first-quarter performance on record and 6.1% above the same period in 2025.

The report also noted Diamondback Energy’s plan to increase exports and expand activity in response to changing global supply conditions. According to the company’s May 4 stockholder letter, Diamondback expects to maintain production above 520,000 barrels of oil per day, about 3% higher than its original 2026 guidance, while running five completion crews and adding rigs to support future flexibility. For readers following oil production in Texas, the update underscores how infrastructure, drilling activity, and market signals can influence output trends.

Texas production figures from the RRC showed preliminary February 2026 crude oil volume of 117.6 million barrels and natural gas volume of 965 billion cubic feet. Martin County led preliminary crude oil production at 19.4 million barrels, while Webb County led preliminary gas production at 85 billion cubic feet. These figures may be relevant for mineral owners and investors tracking regional production trends and oil and gas royalties.

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.
Permian Basin oil output to grow modestly in 2026, per East Daley analysis of 14 public operators’ guidance.

ExxonMobil leads Permian growth outlook for 2026

Midland Reporter-Telegram reports that Permian Basin oil production is expected to grow modestly in 2026, based on East Daley Analytics’ review of guidance from 14 public operators. The firm’s survey points to an increase of 183,000 barrels per day, or 2.7%, across the group. ExxonMobil accounts for the largest share of that outlook, with projected growth of 113,000 barrels per day as it continues expanding its Permian program.

Rich Dealy, ExxonMobil’s vice president for the Permian Basin, said the company’s growth plans remain unchanged following its merger with Pioneer Natural Resources. ExxonMobil holds about 1.5 million acres in the region and continues to focus on longer laterals, cube development, new technology, trades, and bolt-on acquisitions. The company’s stated goal is to reach 2 million barrels per day from the Permian by the end of 2030. For readers tracking oil well production and broader Texas oil production, the figures highlight how large operators continue to shape regional output trends.

Outside ExxonMobil, East Daley’s analysis indicates more moderate growth, with Permian Resources guiding for 6% and Occidental forecasting 3.6%. The report also notes that many public companies are still emphasizing capital discipline, with any increase in drilling activity likely taking months before it reaches production, pipelines, and refiners.

Source: Midland Reporter-Telegram
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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.
TIPRO report: U.S., Permian, and Texas oil output hit records as flaring intensity fell sharply in recent years.

Permian output reaches record levels as flaring eases

A new report from the Texas Independent Producers and Royalty Owners Association found that oil production in the United States, Texas, and the Permian Basin has reached record levels while flaring intensity has moved lower in recent years. According to the report, U.S. flaring intensity is down 45% since 2019, while oil production increased 8% over the same period. Texas and the Permian Basin posted larger improvements, with flaring intensity down about 50% and 62%, respectively.

The Permian Basin produced about 6.3 million barrels of crude oil per day, representing nearly half of total U.S. oil output. Texas also surpassed 2 billion barrels of annual production for the first time. From 2023 to 2024, Permian production increased 6%, while flaring intensity eased nearly 10% and flared volumes were reduced by 4%. The report pointed to expanded pipeline takeaway capacity, including projects such as Gulf Coast Express, Permian Highway Pipeline, and Matterhorn Express, as an important factor supporting those results.

For market participants, mineral owners, and readers following oil production in Texas, the findings highlight how infrastructure development can support higher shale output while improving operational efficiency. The report also provides useful context for those tracking oil and gas royalties, since production growth and midstream capacity can influence long-term activity across major producing regions.

Source: World Oil

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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.
Production in West Texas has helped the U.S. stabilize its demand for foreign oil amid the Iran war, despite drilling fewer oil wells.

West Texas oil output gains spotlight amid global supply shifts

Oil production in West Texas is drawing renewed attention as global supply dynamics evolve, with U.S. producers positioned to play a key role in balancing markets. The article highlights how developments tied to Iran’s oil exports and broader geopolitical considerations are influencing expectations for supply levels. As uncertainties affect international output, production from the Permian Basin remains a critical factor in maintaining stability, supported by established infrastructure and continued operational efficiency.

Producers in the region have demonstrated the ability to respond to changing market conditions, with steady output levels and ongoing investment in drilling and development. This responsiveness is especially relevant as policymakers and market participants monitor supply flows from major oil-producing nations. The article notes that while global events can shift short-term expectations, the consistent performance of U.S. shale—particularly in West Texas—provides a dependable source of supply.

For investors and industry stakeholders, the situation underscores the importance of domestic production in the broader energy landscape. West Texas operations continue to offer visibility into production trends, cost structures, and infrastructure capacity, all of which contribute to long-term planning and market confidence. As global supply conditions evolve, the region’s role remains central to discussions around energy security and market balance.

Source: Texas Tribune
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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.
US-controlled Venezuelan oil sales could bring in about $5B more revenue over the next few months, said US Energy Secretary Chris Wright.

U.S.-managed Venezuelan oil sales projected to bring $5 billion

Oil sales from Venezuela that have been administered under a U.S.-controlled framework for about five weeks are expected to generate roughly $5 billion in additional revenue over the next few months, according to U.S. Energy Secretary Chris Wright in an interview with NBC News. Wright said sales to date have topped $1 billion and that short-term agreements are in place for further deliveries. He made the comments during a trip to Venezuela that included meetings with interim President Delcy Rodríguez.

Wright said proceeds from the crude sales are routed through a U.S. Treasury-controlled account and ultimately remitted back to Venezuela, with commodity traders Vitol and Trafigura involved in handling the transactions. The report also noted that the U.S. has already transferred $500 million in sale proceeds to Caracas following a deal reached in January. Wright added that restoring Venezuela’s oil sector would require substantial investment, and he signaled expectations for higher oil, natural gas, and power production, while noting that recent legal changes are a constructive step but may still fall short of attracting large-scale capital. For related market context, see Ranger’s coverage of U.S.-Venezuela tensions and supply uncertainty.

Source: Oil & Gas 360
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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.
US Energy Secretary Chris Wright said that the world needs to more than double its oil production to bring more people out of energy poverty.

U.S. energy secretary urges major rise in global oil output

U.S. Energy Secretary Chris Wright said the world needs to more than double oil production, arguing that higher supply is critical to expanding access to reliable, affordable energy. Speaking at the World Economic Forum in Davos, Wright framed the issue as an “energy poverty” challenge and suggested global oil demand will remain durable for decades.

Wright also discussed how policy and regulatory frameworks can affect energy investment and cross-border energy trade, including requirements tied to emissions monitoring and reporting. He pointed to the scale of today’s market as context for his remarks, noting that global supply is already above 100 million barrels per day and that the U.S. has expanded production and export capacity in recent years. For additional context on U.S. output trends, see Ranger’s updates on recent EIA production forecasts and record onshore production on federal lands.

Source: Upstream
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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.