The recent data places
“More rigs equals more jobs and more revenue for our state.
“As the foundation of our state’s economy, we are poised to help
Remaining “a favorable place” means cutting down on burdensome and duplicative regulation on the industry, he said.
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Flynn called for lawmakers to enact policy that would ensure
With a new governor and multiple state offices up for election this year, Flynn said lawmakers must continue to support oil and gas as an essential facet of
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“Oil and gas has been providing a huge amount of revenue for the state,” he said. “It will continue to maintain as long as the state maintains a sound, stable regulatory environment. If anyone came to the industry and said there was revenue that wasn’t being collected, we’d be the first to correct that.
“What you don’t want is to create a hostile environment.”
Permian leading the way, needs more pipe
Of the 103 rigs reported in
Each rig accounts for 50 jobs, records show, totaling in more than 5,000 throughout
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Another hurdle to the ongoing growth, Flynn said, could be in a potential lapse in take-away capacity — or the amount of resources than can be shipped out of The Permian — during what he called “unprecedented growth.”
“There’s no question this growth is unprecedented,” Flynn said. “There’s no question that in order for this to continue, the state needs to invest in infrastructure. We need to not only ensure that there is adequate housing, roads and schools, but we also need to make sure we have more take-away capacity.
“That means pipelines, and gas processing plants.”
It also means harnessing
Flynn said the growth was spurned by about $13 million in oil and gas investments in the last year and a half.
“We’re seeing a trend where the
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The State also ranks third when it comes to rig counts, behind
At 103 rigs,
Despite the ranking, Flynn said
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“We’re not going to beat
“The companies are ready.”
A recent study form the
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Revenue from production totaled in about $1.7 billion last fiscal year, read the release, including $711 million in public school funding, and about $220 million for higher education institutions.
“The State is doing some exciting things,” Flynn said. “The companies are ready.”
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