Business

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Texas June '23 Drilling Permit and Completion Statistics

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AUSTIN-The Railroad Commission of Texas issued a total of 781 original drilling permits in June 2023. The total includes 694 to drill new oil or gas wells, 8 to re-enter plugged wellbores and 70 for re-completions of existing wellbores.

The breakdown of well types for total original drilling permits in June 2023 is: 166 oil, 58 gas, 501 oil and gas, 38 injection, 1 for service and 17 other permits.

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Hemphill County producers face Aug. 1 deadline to submit FSA County Committee nominations

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HEMPHILL COUNTY–Farmers and ranchers have until Aug. 1, 2023, to nominate candidates to serve on the Hemphill County Farm Service Agency (FSA) Committee. The U.S. Department of Agriculture (USDA) accepts nominations each year in certain Local Administrative Areas (LAAs) for individuals to serve on these locally led committees.

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State Sales Tax Revenue Totaled $3.9 Billion in June

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(AUSTIN) — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.92 billion in June, 6.8 percent more than in June 2022. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.

“The overall rate of sales tax revenue growth was in line with the rate of growth over the last three months,” Hegar said. “Growth in receipts from sectors principally driven by business spending continued to outpace that from consumer-oriented retail trade.

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Weekly Drilling Intents & Completions Report

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Intents to Drill

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Gas Completions

OCHILTREE (ALLEN-PARKER, Marmaton) King Operating Corporation, #2 Chunn 923V, 4.5 mi SE from Perryton, Sec 923, Blk 43, H&TC RR Surv, A-273, spud 9-14-2022, compl 3-3-2023, tested 3-5-2023, potential 49 mcf, 0 bbls cond, 0 bbls wtr,100# ftp, 840# SIWHP, TVD 8339’, PBD 6957’ API 42-357-33747, Vertical

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USDA Announces Corrections to Emergency Relief Program Policy

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 WASHINGTON, June 14, 2023 – The U.S. Department of Agriculture (USDA) is updating the Emergency Relief Program (ERP) Phase Two to provide a method for valuing losses and accessing program benefits to eligible producers of certain crops, including grapes grown and used by the same producer for wine production or forage that is grown, stored and fed to livestock, that do not generate revenue directly from the sale of the crop.

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Upstream Texas Oil and Natural Gas Employment Surges in May

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AUSTIN – Newly-released data from the Texas Workforce Commission (TWC), subject to customary data revisions in the coming months, shows that upstream oil and natural gas employment in the state surged by 6,900 jobs in May, the highest single-month reported job growth in the 33 years of data available on TWC’s website. The addition of these jobs in May brings the total upstream oil and natural gas job count in Texas above 200,000 for the first time in over three years.