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Ohio’s oil and gas severance tax generated $21.3 million during last fiscal year

Thursday, February 4, 2016 by

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Ohio’s oil and gas severance tax generated $21.3 million for the 2015 fiscal year which began July 1, 2014 and ended June 30, 2015.

According to Akron Beacon Journal, natural gas production from horizontal wells picked up in eastern Ohio’s Utica shale, but fewer wells are being drilled than before commodity prices fell. Ohio’s severance tax money goes to the Ohio Department of Natural Resources’ Division of Oil and Gas Resources Management and the Division of Geological Survey.

The newspaper states that this fiscal year’s severance tax money could surpass $30 million.

Via: Akron Beacon Journal > Ohio severance tax on natural gas, oil produced windfall of $21.3 million in 2014-2015, total likely to top $30 million in 2015-2016

More about Ohio’s severance tax:

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