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...