Texas Comptroller Certifies April 2026 Average Oil, Gas Closing Price

The Texas Comptroller certified the April 2026 average oil and gas prices for production tax credit and Franchise Tax purposes. Based on an average taxable oil price of $42.26 per barrel, oil produced from qualified low-producing oil leases is not eligible for an Oil Production Tax credit. Based on an average taxable gas price of $1.18 per mcf, gas produced from qualified low-producing wells is eligible for a 100 percent Natural Gas Production Tax credit. For Franchise Tax purposes, the Comptroller determined that taxable entities may not exclude revenue from qualified low-producing oil wells based on an average crude oil ...