Business

Inflation Reduction Act increases ag conservation funds

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Texas A&M Agricultural and Food Policy Center Overview by Blair Fannin, b-fannin@tamu.edu The Inflation Reduction Act recently signed into law by President Biden not only extended the Affordable Care Act, but also infused funding to several agricultural conservation programs familiar to producers. Economists with the Agricultural and Food Policy Center at Texas A&M University in College Station have compiled a briefing paper evaluating the effects of the bill on agriculture.
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Clift Land Brokers celebrates 25 years in the land business

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Amarillo-based Clift Land Brokers is celebrating a major milestone as it marks 25 successful years in the land business. “For a quarter-century, our team of dedicated land professionals has proudly represented families across the region ensuring their legacies live on,” explains founder and broker, George Clift.
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Business Briefs

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Texas RRC reports May 2022 oil and gas production stats AUSTIN—Crude oil and natural gas production as reported to the Texas Railroad Commission (RRC) for May 2022 came from 162,387 oil wells and 87,163 gas wells. The RRC reported that from June 2021 to May 2022, total Texas reported production was 1.5 billion barrels of crude oil and 10.9 trillion cubic feet of total gas.
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Application period for Community Wildfire Defense Grant now open

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COLLEGE STATION—Eligible communities in Texas can apply now for a federal grant administered by Texas A&M Forest Service to plan for and mitigate against risks created by wildfire. The Community Wildfire Defense Grant offers financial assistance to at-risk local communities for the development of community wildfire protection plans and associated mitigation projects.
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Business Briefs

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Texas Drilling Permit and Completion Statistics for July 2022 AUSTIN—The Texas Railroad Commission issued a total of 901 original drilling permits in July 2022 compared to 779 in July 2021. The July 2022 total includes 782 permits to drill new oil or gas wells, 15 to re-enter plugged wellbores, and 93 for recompletions of existing wellbores.