Citing data from the Texas comptroller’s office, Texas Independent Producers and Royalty Owners Association said tax contributions by the state’s oil and gas industry remained high in September despite “shifting industry and market conditions.” Texas energy producers paid $444 million in oil production taxes and $224 million in natural gas production taxes for the month. TIPRO said Oct. 17, “Oil and gas tax revenue helps to provide essential funding for programs that benefit all Texans, including public education, state roads and highways, first responders and other important public services.”
Oil production in Texas increased in July to 5.8 million barrels per day, according to U.S. Energy Information Administration, and natural gas output in the state in July grew by 1.4 percent to reach an all-time high of 37.35 Bcfd. U.S. production in July increased to 13.64 million b/d of oil and 121.62 billion cubic feet per day of natural gas.
In the TIPRO report issued Oct. 17, Ed Longanecker, president, said, “Texas producers will keep working, but they need a fully functioning government to ensure their efforts translate into stable markets and robust energy security for the nation… Let’s protect America’s energy security, support the Texas workers who power our nation, and maintain our position as the world’s energy leader. The stakes are too high for politics to stand in the way.”
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