Pennsylvania gas drilling fee revenue rebounded in 2017


Make text smaller Make text larger



Photos





Rebounding prices for natural gas and a growth in new wells exploring Pennsylvania's vast Marcellus Shale reservoir are fueling a recovery in fee revenue for state programs and county and municipal governments.

The Independent Fiscal Office projected Feb. 1 that impact fee collections for 2017 will be just above $219 million, $46 million more than 2016's low point of $173 million.

The rebound breaks a string of three years of declining revenue. The Independent Fiscal Office says the increase is largely due to the average annual price of natural gas on the New York Mercantile Exchange passing $3, which triggered a $5,000 per-well increase.

The office also says 812 new wells were started, making 8,634 wells subject to the fee. Pennsylvania is the nation's No. 2 natural gas state behind Texas.



Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Veterinarians warn of deadly dangers for pets this summer
Veterinarians are cautioning pet owners of dangers associated with rising temperatures during the summer months.
When temperatures rise, experts from VERG urge pet owners to...

Read more »
Image

Senior quarterback Nick Reilly signs with Kings College
Delaware Valley senior quarterback Nick Reilly has signed with Kings College-Division III. Nick was a Lackawanna League Division I All-Star. He plans on majoring in business and...
Read more »
Image

Land trust board gathers at annual celebration, awards local for protection work
Pocono Heritage Land Trust has honored Edward Cramer with the “This Land is Your Land” Award.
More than 50...

Read more »
Image

Study: Many women with early stage breast cancer do not need chemo
A new study is redefining treatment decisions decisions for many women with early-stage breast cancer.
Groundbreaking research showed no benefit from chemotherapy for 70...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers


MOST COMMENTED



Weather in Milford, PA