The Pennsylvania Public Utility Commission (PUC) said on June 17 that 2021’s impact fees on natural gas producers were about $100 million higher than in 2020, due to higher gas prices and the addition of new wells.
The average price of natural gas was $3.84 per million British thermal units (MMBtu) compared with 2020’s $2.08 per MMBtu, the PUC said in a press release, with 518 new wells added during 2021.
County and municipal governments directly affected by drilling will receive a total of about $123.2 million for the 2021 reporting year, per the PUC, out of the year’s total of about $234.4 million.
“Additionally, $86,030,934 will be transferred to the Marcellus Legacy Fund, which provides financial support for environmental, highway, water and sewer projects, rehabilitation of greenways and other projects throughout the state. Also, $25,189,477 will be distributed to state agencies, as specified by Act 13,” the PUC said.
The PUC, which has been collecting fees from gas wells and distributing them to local governments, said it has collected and distributed over $2.2 billion to Pennsylvania communities.
2022-09-30 - Biden has warned oil companies not to use the storm as a pretext to raise gasoline prices, which spiked earlier this year after Russia's invasion of Ukraine.
2022-09-30 - The formation of North Peak Oil & Gas, the largest leaseholder in the Wyoming D-J Basin, was made through the combination of North Silo Resources and Longs Peak Resources, two existing Juniper portfolio entities that were also jointly owned by Boomtown.
2022-09-30 - Ulrica Fearn will take a new role as CFO of Carlsberg, a Danish brewing company, after just 16 months with Equinor.
2022-09-30 - Russia’s invasion of Ukraine tilts the LNG market to favor the U.S., which has drilled and innovated its way to become a key global exporter of LNG—thanks in large part to the persistence of Charif Souki.
2022-09-29 - Mitsubishi and the Port of Corpus Christi Authority will look into the possibility of making low-emission ammonia, produced from natural gas but eliminating emissions by capturing and storing the emitted carbon nearby, a source said.