Christi Craddick has sent a letter to Texas Comptroller Glenn Hegar asking him to consider extending the monthly deadline to file crude oil and natural gas production taxes for three to six months.

Texas Railroad Commissioner Christi Craddick has sent a letter to Texas Comptroller Glenn Hegar asking him to consider extending the monthly deadline to file crude oil and natural gas production taxes for three to six months.

“Other oil producing states have taken similar measures in the past week,” Craddick stated in the letter.

“A delay in filings may make the difference for companies giving them time and the needed flexibility to get through this crisis,” Craddick added.

In the letter, Craddick highlighted that the Texas oil and gas industry is a “significant” contributor to the economic wellbeing of the United States.

“Texas leads the nation in crude oil production, accounting for over 40 percent of U.S. production. That has created big dividends for Texas taxpayers. In 2019, the industry paid more than $14 billion in state and local taxes on top of over $2 billion in state royalty payments,” Craddick stated.

“More importantly, the industry is a leading employer, employing over 400,000 Texans working to achieve the American Dream,” Craddick added.

The Texas Railroad Commissioner outlined in the letter that global demand destruction, due to Covid-19 constraints on travel and economic activity, and the flooding of the global market with discounted crude “threaten to decimate the domestic oil and gas industry”.

Established in 1891, the Railroad Commission of Texas (RRC) regulates the exploration, production, and transportation of oil and natural gas in the state. Craddick - an attorney specializing in oil and gas, water, tax issues, electric deregulation and environmental policy – is one of three RRC commissioners.

The Texas Comptroller's office was originally created by the Texas provisional government in 1835. The Comptroller is the chief steward of the state's finances, acting as tax collector, chief accountant, chief revenue estimator and chief treasurer for all of state government, according to the organization’s website.

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