Alberta natural gas and oil producers predict their annual taxes will drop by C$85 million ($64 million) thanks to provincial and municipal reductions announced Monday as a response to the Covid-19 andemic. The relief program for exploration and production (E&P) companies cuts levies on wells, drilling equipment, pipelines and industrial property for three years. While…
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Colorado Oil, Natural Gas Regulator Raises Mill Levy to Balance Budget Amid Pandemic
The Colorado Oil and Gas Conservation Commission (COGCC) has adopted a mill levy rate increase in order to balance its budget amid revenue shortfalls caused by the Covid-19 pandemic and subsequent downturn in commodity pricing. Mill levies, the regulator’s main source of revenue, are property taxes whose rates are expressed in mills, which are equal…
Texas Natural Gas, Oil Industry in FY2019 Generated $16B-Plus in Taxes and Royalties
The natural gas and oil industry in Texas paid more than $16 billion last year in combined state/local taxes and in royalties, the highest in history, according to the Texas Oil & Gas Association (TXOGA).

Ballot Initiative to Raise Oil, Gas Taxes Moves Ahead in Alaska
Alaska Lt. Gov. Kevin Meyer certified a ballot initiative last week that would end certain tax credits for oil and natural gas production in the state’s most prolific regions, and effectively increase tax rates.

Oklahoma Reportedly Lost $1.5B in Oil, Gas Revenue During Downturn
A slowdown in oil and gas activity in Oklahoma between late 2014 and late 2016 created a $1.5 billion, or 15.4%, loss in total state tax revenue, according to a report released last month by the State Chamber of Oklahoma.
Pennsylvania Governor Targeting NatGas Industry for Only Tax Increase in Budget Plan
Pennsylvania Gov. Tom Wolf on Tuesday in the final budget address of his first term again called on a joint session of the General Assembly “to do the right thing” and pass a proposal to implement a severance tax on natural gas production.
Debate on Energy Issues Expected as Tax Reform Heads to Conference
With comprehensive tax reform winning passage in the Republican-controlled Senate on Saturday, lawmakers in the House, where the GOP also holds sway, are preparing to hold conference committee talks to iron out differences, including on energy issues, between bills passed in the House and Senate.
Idaho Oil/NatGas Tax Rates Among Nation’s Lowest, Study Says
Idaho’s effective tax rate on oil and natural gas is less than half the average in eight producing states spread around the West, according to a report released Thursday by the state Department of Lands’ Oil/Gas Conservation Commission (OGCC).
Taxes Bleeding Mexico’s Pemex Dry, Fitch Says
The Mexican government is taxing Petroleos Mexicanos (Pemex) to death, and a recently adopted support package to prop up Pemex is not enough, Fitch Ratings said in a note last week.
West Virginia Tax Collections Still Falling on Weak Oil/NatGas Prices
West Virginia tax collections continued falling through the first three months of the fiscal year in a trend that state officials again attributed to weak commodity prices, which have negatively impacted the oil and natural gas industry.