Latest News, WV Press InSight Videos, WVPA Sharing

W.Va. seeing more natural gas severance revenue

CLARKSBURG, W.Va. — Seven North Central West Virginia counties received a combined $4 million in natural gas severance tax revenues in 2014.

That’s according to the West Virginia Oil and Natural Gas Association (WVONGA), which released the information Tuesday.

Corky DeMarco, the association’s executive director, said the numbers are based on data obtained from the West Virginia Tax Department and the state Treasurer’s Office. DeMarco said it’s all part of an effort to inform the state’s residents about the benefits of natural gas exploration in the state.

Natural gas extraction accounts for a growing share of the state’s overall severance tax revenues, which account for 12 percent of the state’s total tax collections, according to DeMarco.

In total, the industry paid $188.3 million in severance tax revenues in fiscal year 2014, according to the WVONGA release. That figure is more than double the $79.2 million the industry paid in 2013…

Comments are closed.

Subscribe to Our Newsletter