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State Revenue From Drilling Fees Should Drop By About Three Percent

April 4, 2013
By

The Public Utility Commission posted on Wednesday that they expect about a three percent drop in the revenue the state will take in this year from impact fees imposed on natural gas drillers.

Total potential collections are estimated at about $198-million. down about $6-million from last year.

With the price of natural gas dramatically lower, due largely to increased drilling efforts, the PUC lowered the fee for each gas well for 2012 by approximately $5,000, according to the terms of the oil-and-gas law called Act 13.    Meanwhile, corporations drilled 1,357 new deep shale wells in the state last year.

The PUC must distribute the money by July 1, but officials have not yet calculated exactly how the money will be divided.

Venango Weather