DID YOU KNOW.......

• West Virginia has 385 named oil and gas wells?
• wells have been drilled in 53 of the state's 55 counties?
• West Virginia produced 191 billion cubic feet of natural gas in 2001?
• West Virginia produced 1.607 million barrels of oil in 2001?
• oil and gas has been drilled in West Virginia since the late 1850's?
• the deepest well in West Virginia was drilled in 1974 to a depth of 20,222 feet?
• Ritchie County has the most oil/gas wells in West Virginia - a total of 11,300?

West Virginia law provides for the collection and distribution of a severance tax on oil and gas. The oil and gas severance tax is dedicated for the use and benefit of the counties and municipalities within West Virginia.

In order to provide a procedure for the distribution of the oil and gas tax, a fund has been established in the State Treasurer's Office. The State Tax Commissioner deposits the proceeds received by his office into this revenue account. The moneys in the oil and gas revenue fund are then distributed annually to the counties and municipalities entitled to the money by the State Treasurer. Seventy-five percent (75%) is distributed to oil and gas producing counties. The remaining twenty-five percent (25%) is distributed to all counties and municipalities of the state, based on their population, without regard to oil and gas having been produced therein.

DISTRIBUTION OF OIL AND GAS TAXES

West Virginia Code