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IFO Projecting Either $9.6 Million Increase In Drilling Impact Fee Revenue In 2019 Or $37.1 Million Decrease

On June 28, the Independent Fiscal Office issued its estimate of revenues for 2019 from the Act 13 drilling impact fees saying there could be a $9.6 million revenue  increase over this year or a $37.1 million decrease, depending on the price of natural gas.

The reason for the wide range is the formula used to calculate the fees which is based in part on the average annual price of natural gas on the New York Mercantile Exchange.

If that price reverts back to a level below $3.00 per million BTU for 2019, the impact fee schedule will decrease by $5,000 per well compared to 2018.

For the first six months of 2019, the price has ranged from $2.64 to $3.63.  In 2018 the average price was $2.93.  The IFO said energy forecasts have the spot price for national gas averaging $2.90 for the remainder of the year.

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[Posted: June 29, 2019]


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