Letter Sent by 3 Top PA Drilling Groups to Legislators Urging Restraint on Severance Tax

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Marcellus Drilling News

A letter sent by Marcellus Shale Coalition, Associated Petroleum Industries of Pennsylvania, and the Pennsylvania Independent Oil & Gas Association to 11 top PA legislators. It urges "restraint" when it comes to a severance tax and hints at/warns that drillers will leave PA for both Ohio and West Virginia if PA passes a new severance tax. It's not an empty threat.

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Letter Sent by 3 Top PA Drilling Groups to Legislators Urging Restraint on Severance Tax

Letter Sent by 3 Top PA Drilling Groups to Legislators Urging Restraint on Severance Tax

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Annual report issued by the U.S. Energy Information Administration showing oil and natural gas proved reserves, in this case for 2015. These reports are issued almost a year after the period for which they report. This report shows proved reserves for natural gas dropped by 64.5 trillion cubic feet (Tcf), or 16.6%. U.S. crude oil and lease condensate proved reserves also decreased--from 39.9 billion barrels to 35.2 billion barrels (down 11.8%) in 2015. Proved reserves are calculated on a number of factors, including price.

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