Natural gas and oil production taxes generated more than $1 billion for the Lone Star State in September, the Texas Comptroller of Public Accounts reported.

The Texas Comptroller’s office said the natural gas production tax garnered $480 million last month, representing a 91% year/year increase. The state collected $552 million from its oil production tax during the period, translating into a 41% year/year increase, the state’s chief tax collector added.

Texas levies a 7.5% tax on the market value of natural gas that is mostly paid by the producer, according to the state agency. The state’s 4.6% oil production tax, also tied to market value, is paid by the first purchaser of crude oil.

[Get Better Intel: Where are natural gas prices in Canada heading in the next few...