New Record Set for Taxes, Royalties Set in O&G 2019

According to data released from the Texas Oil & Gas Association (TXOGA), the Texas oil and natural gas industry paid more than USD $16 billion in state and local taxes, and state royalties in 2019, which is the highest total in Texas history.

TXOGA President Todd Staples hosted a media briefing this week to share the new report and to provide a closer look at how Texas uses oil and natural gas tax revenue to benefit all Texans. He detailed how oil and natural gas tax and royalty revenue is used to support education, transportation, healthcare and infrastructure through the State Highway Fund, the Economic Stabilization Fund (commonly known as the Rainy Day Fund), the Permanent School Fund and the Permanent University Fund – all of which are funded with taxes and state royalties paid by the oil and natural gas industry.

Read more on the TXOGA website here:

Previous articleInnovative Green Program at Dismantled Industrial Site
Next articleBP CFO Gilvary to Retire, Succeeded by Auchincloss