Business

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State Sales Tax Revenue Totaled $3.9 Billion in June

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(AUSTIN) — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.92 billion in June, 6.8 percent more than in June 2022. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.

“The overall rate of sales tax revenue growth was in line with the rate of growth over the last three months,” Hegar said. “Growth in receipts from sectors principally driven by business spending continued to outpace that from consumer-oriented retail trade.

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Weekly Drilling Intents & Completions Report

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Intents to Drill

None

Gas Completions

OCHILTREE (ALLEN-PARKER, Marmaton) King Operating Corporation, #2 Chunn 923V, 4.5 mi SE from Perryton, Sec 923, Blk 43, H&TC RR Surv, A-273, spud 9-14-2022, compl 3-3-2023, tested 3-5-2023, potential 49 mcf, 0 bbls cond, 0 bbls wtr,100# ftp, 840# SIWHP, TVD 8339’, PBD 6957’ API 42-357-33747, Vertical

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USDA Announces Corrections to Emergency Relief Program Policy

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 WASHINGTON, June 14, 2023 – The U.S. Department of Agriculture (USDA) is updating the Emergency Relief Program (ERP) Phase Two to provide a method for valuing losses and accessing program benefits to eligible producers of certain crops, including grapes grown and used by the same producer for wine production or forage that is grown, stored and fed to livestock, that do not generate revenue directly from the sale of the crop.

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Upstream Texas Oil and Natural Gas Employment Surges in May

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AUSTIN – Newly-released data from the Texas Workforce Commission (TWC), subject to customary data revisions in the coming months, shows that upstream oil and natural gas employment in the state surged by 6,900 jobs in May, the highest single-month reported job growth in the 33 years of data available on TWC’s website. The addition of these jobs in May brings the total upstream oil and natural gas job count in Texas above 200,000 for the first time in over three years.

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URGENT MESSAGE: Perryton, Texas, Tornado Relief Efforts

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Perryton’s Assistant City Manager Colby Waters just reported to The Canadian Record that due to an influx of generous donations from all over the country, the City of Perryton is inundated with provisions and materials that they have no way of handling under the existing difficult conditions created by Thursday’s deadly tornados. Food supplies are particularly difficult to handle because they have no way of storing or cooking those perishables. Power supplies have been compromised, and resources are stretched thin already.