Texas Oil & Gas Association

Congratulations to the New Mexico Oil & Gas Association on the launch of the Dark for the Park Alliance, a collaborative effort of various state, federal and industry stakeholders as well as the University of Texas at Austin's McDonald Observatory to develop recommended lighting practices that reduce excess light output from industry activities to help keep the skies dark. https://lnkd.in/gwRPyhQX In 2018, TXOGA, along with the Permian Basin Petroleum Association, was proud to partner with the Observatory to develop a Dark Skies Initiative for Texas. https://lnkd.in/gtX2b-Gd

Texas leaders are weighing in on the impressive numbers announced in TXOGA's Annual Energy & Economic Impact Report. Read what Speaker Dade Phelan and others had to say: https://lnkd.in/g5XZ9WqK

Texas leaders are weighing in on the impressive numbers announced in TXOGA's Annual Energy & Economic Impact Report. Read what Lieutenant Governor Dan Patrick and others had to say: https://lnkd.in/g5XZ9WqK

Texas leaders are weighing in on the impressive numbers announced in TXOGA's Annual Energy & Economic Impact Report. Read what Governor Greg Abbott and others had to say: https://lnkd.in/g5XZ9WqK

📊 TXOGA Chartbook Update - Week of January 13, 2025 🔹U.S. economic indicators point to sustained consumer optimism and supportive business conditions for growth. Non-farm payrolls increased by 256,000 in December, reducing the unemployment rate by 0.1 percentage points month-over-month (m/m) to 4.1%, according to the Bureau of Labor Statistics (BLS). Industrial production data and the ADS index, published by the Federal Reserve and the Philadelphia Fed, indicate positive GDP growth momentum heading into Q1 2025. However, concerns about potential tariffs and inflationary pressures have heightened expectations for interest rate adjustments. Yields on CCC-rated and lower-quality corporate bonds declined by 0.1 percentage points week-over-week (w/w) to 11.7%, while 30-day Federal Funds futures remained steady at 4.3%, narrowing the risk premium for lower-credit-quality bonds to 7.4%. 🔹Record U.S. dollar strength. As highlighted in the Chart of the Week, the U.S. dollar has reached its highest recorded foreign exchange rate since 2006. This extreme appreciation presents challenges to servicing over $5 trillion in U.S. dollar-denominated debt, with more than half of these obligations concentrated in emerging markets across Asia-Pacific, Africa, and the Middle East. 🔹Tighter oil market fundamentals. WTI crude oil prices rose above $76 per barrel as of January 10, the highest since early October 2024. Despite record-high U.S. oil production exceeding 13.5 million barrels per day (mb/d) and concerns over potential OPEC supply increases, oil prices have been supported by tighter fundamentals. Petroleum demand climbed to the top quartile of its 5-year range, net exports remained historically strong, and domestic crude inventories fell for the seventh consecutive week, according to the Energy Information Administration (EIA) data for the week ending January 3. 🔹Natural gas production has maintained robust inventory levels despite strong consumption and rising exports. Expectations of increased winter demand pushed U.S. natural gas prices up by 18.1% week-over-week (w/w) to nearly $4.00 per million Btu as of January 10. According to EIA data as of January 3, strong production has driven inventories to 10% above the five-year range, even amid heightened winter-weather consumption. For detailed insights and analysis, please visit the TXOGA Chartbook at: https://lnkd.in/g8tSBmUm #TexasOilAndGas #EconomicOutlook #OilMarket #NaturalGas #EnergyTrends #MarketInsights #Business #Economics #Productivity #QuantitativeAnalysis #Strategy #Innovation #Inflation #Prices #Markets #Data

The Texas oil and natural gas industry shattered records for state and local tax revenue and performance across every sector in 2024, according to TXOGA's newly released annual Energy & Economic Impact Report (EEIR). Highlights from the report include a history-making $27.3 billion in state and local taxes and state royalties paid by the oil and natural gas industry–a feat driven by record-breaking performance in production, pipelines, storage, processing, refining and exports. Learn what Texas’ leaders had to say about this year’s phenomenal EEIR results and the importance of the oil and natural gas industry in the Lone Star State: https://lnkd.in/g5XZ9WqK

The 89th Texas Legislative Session kicks off tomorrow, Tuesday, January 14th! Tune in to TXOGA Talks for a discussion about what to expect during the 140-day session. Listen now: https://lnkd.in/gugEfn_j

TXOGA has issued a Winter Weather Situation Report for Friday, January 10. Based on the weekend outlook, this will be the last report of this weather event. Read today's report: https://lnkd.in/g7DzX9pK Read previous reports: https://lnkd.in/g8_d5x9m

On January 10, 1901, history was made at Spindletop Hill! A massive oil geyser erupted, marking the beginning of the modern petroleum age. This incredible discovery, fueled by years of dedication and belief, transformed Texas and the globe.

TXOGA has issued a Winter Weather Situation Report for Thursday, January 9. Read today's report: https://lnkd.in/gYDNvs88 Read previous reports: https://lnkd.in/g8_d5x9m