According to just-released data from the Texas Oil & Gas Association (TXOGA), the Texas oil and natural gas industry paid $27.3 billion in state and local taxes and state royalties in fiscal year (FY) 2024–the highest total in Texas history–shattering last year’s record by almost a billion dollars.
The U.S. LNG industry and natural gas pipeline operators expect the incoming Trump Administration to launch a new wave of capacity expansions that would cement America’s position as the world’s largest LNG exporter.
Curious Minds Corner
What is the deepest oil well ever drilled, and how deep is it?
The Z-44 Chayvo well in Russia is the deepest oil well, reaching a depth of 40,604 feet (12,376 meters)