Sundance Times - Continuing the Crook County News Since 1884

By Camille Erickson
Casper Star-Tribune Via Wyoming News Exchange 

Gordon OKs oil and gas tax break

 

April 2, 2020



CASPER — In the midst of unprecedented volatility in the global oil market, shale producers in Wyoming received a small boost Friday in the form of tax relief. Gov. Mark Gordon signed into law a bill providing reductions in state mineral taxes amidst certain price environments. 

The tax break would kick in if the 12-month rolling average of oil prices falls below $50 per barrel. For natural gas, the 12-month rolling average would need to be less than $2.95 per thousand cubic feet. 

In these scenarios, the state’s mineral production tax — know as a severance tax — would be reduced...



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