Collections

Pennsylvania’s Independent Fiscal Office (IFO) this week revised its outlook for 2016 impact fee collections, saying they would once again decline compared to 2015 but not as sharply as the office once thought or as they have in the past.

Increasing northern shale production has prompted TransCanada Corp. to announce a C$655 million ($490 million) addition to its supply collection network in Alberta and British Columbia (BC), Nova Gas Transmission Ltd. (NGTL).

West Virginia’s severance tax collections continued to plummet in November, driven primarily by low oil and natural gas prices, which have also hurt personal income tax collections and helped to widen a projected budget deficit for fiscal year 2016.

President Obama’s fiscal 2013 budgets for the Environmental Protection Agency (EPA), Department of Energy (DOE) and Department of Interior (DOI) propose funding directed at assessing the impact of hydraulic fracturing (fracking) of shale.

New Mexico’s coffers took a hit due to weak oil and gas prices during the first quarter of the state’s 2010 fiscal year as collections by the State Land Office declined $104 million from the year-ago period when $194 million was collected.

The Alberta government is predicting that sustained strength in natural gas prices will fuel a C$3 billion (US$2.8 billion) bonus in its royalty collections for its current fiscal year, ending March 31.

The Alberta government is predicting that sustained strength in natural gas prices will fuel a C$3 billion (US$2.8 billion) bonus in its royalty collections for its current fiscal year, ending March 31.