GO-WV’s 2024 “Gas Facts” Edition Highlights Production Growth, Property and Severance Tax Revenues, and Employment Tied to Responsible Energy Development

CHARLESTON, W.Va., September 12, 2024 — West Virginia natural gas and oil production increased fourteen and twenty-six percent, respectfully, in 2023, according to the Gas and Oil Association of West Virginia (GO-WV)’s annual Gas Facts report. The report, compiled annually using industry and government data, reaffirms the state’s critical role in meeting rising energy demand while maintaining U.S. energy security.

Remaining America’s fourth largest producer, 3.21 trillion cubic feet (tcf) of natural gas was produced in the state in 2023. Similarly, West Virginia oil production reached 18.6 million barrels in 2023, or approximately a 26% increase compared to the year prior. Alongside these gains, tax contributions by operators continue to boost local schools and communities, with $428.4 million in property taxes and an additional $235 million in severance taxes paid from natural gas, oil and natural gas liquids in the 2024 fiscal year.

“Our industry not only fuels local economies and supports thousands of jobs, but it also contributes significantly to community development, local schools and infrastructure improvements state-wide. We remain dedicated to providing the reliable, affordable energy that drives progress across West Virginia,” said Charlie Burd, President of GO-WV. “We’re proud of the positive impacts made by our industry and organization, and we hope this information helps inform and spread the word about these benefits and what’s in store for our energy-rich future.”

These benefits include the thousands of careers, with over 15,000 direct jobs and an additional 73,000 indirect jobs tied to natural gas and oil development. More, the downstream manufacturing, power generation and alternative fuels development tied to West Virginia’s energy abundance have attracted millions in public and private investment to the state, each offering thousands of additional job opportunities for local workers.

“This year’s Gas Facts once again highlights what we know to be true: natural gas and oil development drives significant gains across our state, supporting job and economic prosperity for local communities and providing a critical, affordable fuel source for consumers across Appalachia,” said Jim Crews, GO-WV Board Chairman.

The 2024 Gas Facts underscores the industry’s resilience and adaptability amidst a rapidly changing global energy landscape. Key highlights from this year’s report include:

  • Over 15,000 direct jobs
  • ~73,000 indirect jobs
  • $428.4 Million paid in property taxes (~133% increase)
  • 18,640,977 barrels of oil produced (~26% increase)
  • 21 trillion cubic feet of natural gas produced (~14% increase)

Antero Resources continues to lead West Virginia as the top natural gas producer at 1,132.9 bcf per year. Southwestern Energy (or SWN) drove a majority of the year’s oil production increase, producing 7.3 million barrels in 2023. Tyler County remains the largest natural gas producing county in the state, totaling 667.5 bcf last year.

About GO-WV

GO-WV was formed in December 2020 through the merger of the Independent Oil and Gas Association of WV (IOGA WV) and the West Virginia Oil and Natural Gas Association (WVONGA) with the goal of providing a stronger, unified voice for the state’s most critical industries. Learn more at www.gowv.com, or follow us on Twitter (@GasOilWV) and Facebook (@GasAndOilWV).