Oil and Natural Gas Production Taxes Top $1 Billion in September

Oil and Natural Gas Production Taxes Up 41 and 91%, respectively, over last September

AUSTIN – Texas Comptroller Glen Hegar’s recently released tax collections data reveals oil and natural gas producers paid more than $1 billion in production taxes in September.

According to the Comptroller’s data, in September, Texas oil producers paid $552 million in production taxes, up 41 percent from September 2021. Natural producers paid $480 million, up 91 percent from September 2021.

“The oil and natural gas industry is meeting our energy needs more responsibly than any other nation in the world, while directly funding public education, essential services, and our state’s robust Rainy Day Fund,” said Todd Staples, president of the Texas Oil & Gas Association. “Oil and natural gas are irreplaceable in our lives, our economy and our future.”

Production taxes are only one of the many taxes that the Texas oil and natural gas industry pays. The industry also pays billions in property taxes on all assets from producing minerals properties to pipelines to refineries and gas stations. State and local sales taxes also apply to many purchases made by the industry, raising billions more. There are further taxes, including the state’s franchise tax and gross receipts taxes imposed on natural gas utilities and pipelines, and millions of dollars in fees imposed by state government.

+++

Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.

 

Stay Updated

Get quick updates in our e‑newsletter.

Related Updates

April 18, 2024

El Paso - The Texas Oil and Gas Association (TXOGA) has partnered with Marathon Petroleum Corporation’s El Paso Refinery to bring the Mobile Energy Learning Unit (MELU) to five schools in El Paso this week, providing hundreds of elementary students a unique opportunity to learn about STEM education and careers in energy through the hands-on, interactive learning exhibit.

April 10, 2024

AUSTIN - Texas’ production of oil, natural gas, and natural gas liquids (NGLs) achieved new record highs for the month of September after achieving record highs just one month earlier in August, according to the Texas Oil & Gas Association’s (TXOGA) monthly energy economic analysis prepared by TXOGA Chief Economist Dean Foreman, Ph.D. Further, as crude and NGL production has climbed, in-state refiners have processed record amounts.

April 10, 2024

AUSTIN - Texas’ production of oil, natural gas, and natural gas liquids (NGLs) achieved new record highs for the month of September after achieving record highs just one month earlier in August, according to the Texas Oil & Gas Association’s (TXOGA) monthly energy economic analysis prepared by TXOGA Chief Economist Dean Foreman, Ph.D. Further, as crude and NGL production has climbed, in-state refiners have processed record amounts.

April 5, 2024

AUSTIN – The Texas Oil & Gas Association (TXOGA) today announced the hiring of Tracy Gonzales as Director of Community Relations for Houston and Southeast Texas. TXOGA President Todd Staples issued the following statement

Subscribe to our mailing list!

Sign up for our newsletter to stay updated on all the latest news and events.

NOTE: Fields with an asterisk * are required.

Contact us

If you are interested in Formula Membership please complete the form and we will be in touch shortly.

NOTE: Fields with an asterisk * are required.