Lower severance taxes are severely squeezing budgets in oil producing states, some to “revenue failure” Severance taxes on oil and gas extraction make up a significant portion of the budgets of a number of states in the U.S., but the rapid decline of prices since November of 2014, has put several of those states in a bind as they prepare
Cruz says he wants to “unleash American jobs and opportunity by harnessing our nation’s energy resources” Texas Senator Ted Cruz Texas Senator Ted Cruz posted a detailed list of his energy policy stances on his U.S. Senate website in Feb. 2014. They are as follows: Prevent the Federal Government from Undermining the American Energy Renaissance and the Jobs It Creates (1-5) 1)
Shortage of Frac Crews, Equipment Drives Favorable Pricing in Argentina “Eighty percent of the shale in the world has been identified as being outside of North America,” EcoStim Energy Solutions (ticker: ESES) CEO Chris Boswell told Oil & Gas 360® in an exclusive interview at EnerCom’s 20th The Oil & Gas Conference® in Denver, “but eighty percent of the equipment
Via Philadelphia Business Journal Pennsylvania gets smaller share of tax revenue from oil and gas extraction than Texas, Alaska Less than 1 percent of Pennsylvania’s tax revenue comes from taxes and fees generated directly from the extraction of oil and natural gas, according to a new report. The Keystone State is the second-biggest natural gas producer in the U.S. but
HB 40 hopes to clarify limits of local control on oil and gas operations, preventing frac bans Texas Governor Greg Abbott signed legislation today designed to pre-empt local regulations on drilling activities in the state. The bill, House Bill 40, will avoid a “patchwork of local regulations” that might hamper oil and gas production, according to Gov. Abbot. According to
Chief Executive Magazine Canvased CEOs across the U.S. to Create its 11th Annual Ranking Texas came in at the top of the list of “Best States for Business,” retaining its 2014 title. At the bottom in the eyes of CEOs is California, also retaining its 2014 spot. CEOs were asked to rank states they were familiar with on three categories:
The fight over home rule moves to Texas House Municipal control over activities involved in hydraulic fracturing has become a hot topic nationwide, with the small town of Denton, Texas, being one of the focal points of the conversation about local control of oil and gas regulations. In Denton, the city passed legislation banning hydraulic fracturing, causing uproar in the
New Bill would limit local control over oil and gas activities across Texas A Texas state Senate subcommittee voted unanimously to pass legislation being dubbed the “Denton fracing bill.” The proposal would limit local control over oil and gas activities across Texas, reports The Texas Tribune. The proposal is among nearly a dozen filed in the aftermath of the town
Texas LNG announced today that it began the pre-filing process with the FERC Houston Texas based Texas LNG Brownsville announced today that it has begun the pre-filing process with the Federal Energy Regulatory Commission (FERC), putting it one step closer to the expected start-up date of its first liquefied natural gas (LNG) facility, according to a company press release. Texas
The hydraulic fracturing ban approved by the city of Denton on November 4 comes into effect today, but is already being contested by the industry in Denton’s courts. The Texas Oil and Gas Association (TXOGA) filed a lawsuit calling the ban invalid and unenforceable just hours after the ban was approved. Now, Denton’s attorneys have filed a legal brief calling
The Denton, Texas City Council voted 5-2 Tuesday night against enacting a permanent ban on the continued permitting of hydraulic fracturing within its city limits. City leaders had introduced a temporary ban on new permits in May after fracing-ban proponents delivered a petition containing about 2,000 signatures. The city’s temporary ban is set to expire in September, according to an
Unit Corp. (ticker: UNT) announced signing a Purchase and Sale Agreement to purchase 84,000 net acres and production located in the Anadarko Basin from Noble Energy, Inc. (ticker: NBL) for $617.1 million. Unit will use availability under its existing credit facilities and a new $400MM senior subordinated debt offering to complete this all-cash transaction. The western Oklahoma and Texas Panhandle
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