Landowners in Belmont County, OH, which has become a hotbed of activity for prospective shale exploration, are signing leases with ExxonMobil Corp. subsidiary XTO Energy Inc. to allow drilling to begin on their acreage, the company has acknowledged.
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Marcellus Adding to West Virginia Tax Revenues
West Virginia, which collected less than $55 million in severance taxes from natural gas operations last year, could see that number jump to nearly $120 million by 2016, thanks in large part to the state’s growing Marcellus Shale industry, according to Deputy Revenue Secretary Mark Muchow.
Study: Marcellus Severance Tax Would Clip Pennsylvania Economy
Barring the imposition of a severance tax, Pennsylvania’s Marcellus Shale basin will continue to be a hotbed of activity, pumping an estimated $14.17 billion into the state’s economy in 2010 and creating more than 98,000 jobs, while generating $800 million in state and local revenues (minus royalties), according to an economic study by Pennsylvania State University that was released Monday.