By AMY GAREIS News-Herald Staff Writer
JEWETT – The Buell well may be showing high numbers for production, but they will not necessarily be reflected in Harrison County’s cashflow.
According to figures provided through the Ohio Department of Natural Resources, the Archer Township well amassed 1,523,465 million cubic feet (MCF) of gas and 13,472 barrels of oil within 79 days of production in the Utica Shale. That is seen as a significant boon for operators Chesapeake Energy, but the trickle-down effect is not as strong when it comes to taxes.
County Auditor Moore said based upon a “complicated” formula through the Ohio Department of Taxation, Harrison will only see about $22,000 in taxes when it starts collecting next year. That figure is anticipated to drop over the next two decades and could leave the county with slightly more than $120,000 as its total profit.
A meeting was held last month with officials from Belmont, Harrison, Noble, Monroe and Guernsey counties to brainstorm ideas about leveling the proverbial playing field when it comes to income from the oil and gas boon. On Wednesday, he was in Columbus doing much of the same with a special subcommittee of the Ohio Auditor’s Association.
“We are all trying to get together to see if we can produce a fair tax in the counties where the wells are sitting. I think this is just ridiculous what they are paying in taxes and I don’t want to see the same thing happen as with the coal.”
Read the full story in this weeks print edition of the Harrison News-Herald.