Economic Impact

There have been a number of studies done on how the oil and gas industry impacts jobs, income, taxes and more at the national, regional and state levels. Below is a collection of recently published studies and reports.

Select a tab below for information on an area.

 

Permian Basin

 
The Economic Impact of the Permian Basin’s Oil & Gas Industry

By Texas Tech University, 2014

Released in August 2014, this report estimates the economic impact of the oil and gas industry in the Permian Basin for 2013. It defines the region as the area stretching from Hale County north of Lubbock, Texas, to the Rio Grande Valley and into parts of southeastern New Mexico.

It includes examinations at the county level, in the context of the overall region, at the Texas portion of the region and at the New Mexico portion of the region.

Researchers concluded:

  • The Permian Basin’s oil and gas industry is an important driver of economic activity in the region and beyond.
  • The industry’s activities generate and sustain jobs, income and output and provide substantially to the gross state products of both states.
  • Through various measures of taxation, the industry also provides many localized benefits to citizens.
 Infographic »
 
Get the full study from www.ttu.edu »

 

Eagle Ford Shale

 
Economic Impact of the Eagle Ford Shale

By the Center for Community and Business Research at the University of Texas at San Antonio’s Institute for Economic Development, 2013

Released in March 2013, this study includes a 2012 update of direct, indirect and induced economic impacts by county in the 14-county and 20-county regions of the Eagle Ford Shale in South Texas.

It also provides a more comprehensive analysis of the economic impact in regards to 2012:

  • completed construction projects
  • crude oil transportation infrastructure
  • impacts on the Texas Gulf Coast
  • impacts on Texas higher education
  • innovations and advancements in natural gas applications
  • increases in county sales taxes
  • pipeline construction costs

Read the full study »

 

 

National

 
State of Energy 2013 Report

By the Texas Independent Producers & Royalty Owners Association (TIPRO), 2013

Released in April 2013, TIPRO’s inaugural report offers a detailed analysis of national and state trends in employment, wages and other key economic factors.

The report states the U.S. oil and gas industry:

  • Employed 971,200 in the first half of 2012, up 7 percent from 2011
  • Paid a national annualized wage of $107,200 in 2012, 119 percent more than the average private sector wage of $48,900
  • Had a payroll of $104 billion in 2012, up by 12 percent, which accounts for a considerable amount of federal and state income taxes paid
Get the full study from TIPRO.org »

 

The Economic and Employment Contributions of Shale Gas
in the United States

By IHS Global Insight (USA) Inc., 2011

Released in December 2011, this study examines recent increases in shale gas production, the continued trend of growth expected for shale gas production into the future, and the economic benefits of this growth, including the employment contributions.

Research demonstrates how the development of new sources of natural gas from shale formations has changed the United States energy outlook and the economy, including jobs, economic value and government revenues. In 2010, shale gas represented 27% of US natural gas production. Within the next five years, this share will grow to 43% and is expected to increase to 60% by 2035.

Download the full report from IHS.com »

 

 

 

Texas

 

Oil and Gas in Texas: A Joint Association Education Message

By the Texas Oil and Gas Association and other non-profit and trade associations, 2012

Released in 2012, this publication focuses on oil and gas issues including statewide economic impact, regulations, hydraulic fracturing, water, air, waste and pipeline safety. It is part of the industry’s ongoing education efforts to provide factual information about oil and gas operations to the public, local leaders and elected officials.

Read the full publication »

 

 

 

North Texas Jobs & Taxes

1,074  jobs
The approximate number of people Pioneer and its subsidiaries employ in Dallas County, as of July 2015.

$6.2 million
Pioneer’s production taxes paid to local North Texas communities in 2014. Production, or severance, taxes are levied by each state on companies producing natural resources.

$2.7 million
Ad valorem taxes Pioneer paid in 2014 to North Texas counties. Ad valorem taxes are levied at a county level, and the producing resources are taxed according to their appraised fair market value.

 

Rockies Jobs & Taxes

142 jobs
The approximate number of people Pioneer and its subsidiaries employ in Las Animas, Denver and El Paso counties, as of July 2015.

$3.3 million
Pioneer’s production taxes paid to local Rockies communities in 2014. Production, or severance, taxes are levied by each state on companies producing natural resources.

$1.8 million
Ad valorem taxes Pioneer paid in 2014 to counties in the Rockies region. Ad valorem taxes are levied at a county level, and the producing resources are taxed according to their appraised fair market value.

 

South Texas Jobs & Taxes

415 jobs
The approximate number of people Pioneer and its subsidiaries employ in Bee, DeWitt and Victoria counties, as of July 2015.

$81.7 million
Pioneer’s production taxes paid to local South Texas communities in 2014. Production, or severance, taxes are levied by each state on companies producing natural resources.

$33.5 million
Ad valorem taxes Pioneer paid in 2014 to South Texas counties. Ad valorem taxes are levied at a county level, and the producing resources are taxed according to their appraised fair market value.

 

Texas Panhandle Jobs & Taxes

119 jobs
The approximate number of people Pioneer employs in Texas’ Moore County, as of July 2015.

$7 million
Pioneer’s production taxes paid to communities in the Texas Panhandle in 2014. Production, or severance, taxes are levied by each state on companies producing natural resources.

$2.2 million
Ad valorem taxes Pioneer paid in 2014 to counties in the Texas Panhandle. Ad valorem taxes are levied at a county level, and the producing resources are taxed according to their appraised fair market value.

 

West Texas Jobs & Taxes

1,857 jobs
The approximate number of people Pioneer and its subsidiaries employ in Midland, Tom Green, Reagan and McCulloch counties, as of July 2015.

$156.6 million
Pioneer’s production taxes paid to local West Texas communities in 2014. Production, or severance, taxes are levied by each state on companies producing natural resources.

$59.7 million
Ad valorem taxes Pioneer paid in 2014 to West Texas counties. Ad valorem taxes are levied at a county level, and the producing resources are taxed according to their appraised fair market value.