Business

The $900 billion pandemic-relief legislation passed by the U.S. Congress late Monday includes $33 billion in aid for farms, broadband, biofuels, and nutrition programs according to the Iowa Capital Dispatch.

PORTALES, N.M.—The Sagamore Wind Project, one of the largest wind farms ever built in New Mexico, is now complete and is expected to save Xcel Energy’s New Mexico and Texas customers $110 million annually in generating fuel costs by using the free and abundant wind of Roosevelt County, New Mexico, to produce clean electricity for a growing economy.

HOUSTON—Maverick Natural Resources LLC announced last week that it had acquired FourPoint Energy LLC, the largest producer in the Western Anadarko Basin. In conjunction with the all-equity merger, Four- Point became a wholly owned subsidiary of Maverick and was renamed Unbridled Resources, LLC (“Unbridled”). Both Maverick and FourPoint are majority controlled by EIG Global Energy Partners (“EIG”) managed funds.

Texas Comptroller Glenn Hegar announced this week he will send cities, counties, transit systems and special purpose taxing districts $790.3 million in local sales tax allocations for December, 3.7 percent less than in December 2019. These allocations are based on sales made in October by businesses that report tax monthly.

Farmers and ranchers across the Lone Star State will meet in Waco on Dec. 5 as part of the 87th Annual meeting of the Texas Farm Bureau (TFB), the state’s largest general farm and ranch organization. TFB delegates will meet in Waco to determine official policy positions of the organization. Delegates will debate resolutions that originate from county Farm Bureau organizations. Issues include feral hog control, performance bonds on land remediation for eminent domain projects, regulations to incentivize meatprocessing facilities, property rights, and many others. The one-day, in-person business meeting will adhere to CDC COVID-19 guidelines to ensure safety. TFB is hosting a hybrid annual meeting this year, with both virtual and in-person sessions. For more information, go to https://texasfarmbureau.org/annualmeeting/.

AUSTIN—Texas Comptroller Glenn Hegar today said state sales-tax revenue totaled $2.98 billion in November, 6.3 percent less than in November 2019. The majority of November sales tax revenue is based on sales made in October and remitted to the agency in November.

AUSTIN—Crude-oil and natural-gas production as reported to the Railroad Commission of Texas for September 2020 came from 168,740 oil wells and 84,707 gas wells. According to preliminary reports, crude oil produced during September totaled 104,320,582 barrels, down from 133,492,234 bbls in September 2019, and 744,787,914 Mcf of natural gas, down from 895,597,169 Mcf a year ago.

WACO—A traditional, Texas-style Thanksgiving dinner for 10 will cost $44.21, down $3.80, according to the special Texas Farm Bureau (TFB) Thanksgiving Meal Report. The survey records the cost of 10 holiday staples—including turkey, stuffing, sweet potatoes, cranberry sauce, and pecan pie.

AUSTIN—Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $890.5 million in local sales tax allocations for November, 4.8 percent more than in November 2019. These allocations are based on sales made in September by businesses that report tax monthly, and on sales made in July, August and September by quarterly filers.

AUSTIN—The Texas Railroad Commission (RRC) issued a total of 395 original drilling permits in October 2020, compared to 971 in October 2019. The October 2020 total includes 329 permits to drill new oil or gas wells, three to re-enter plugged well bores, and 41 for recompletions of existing well bores.