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OIL AND GAS PRODUCTION

OIL AND GAS PRICES

SEVERANCE AND ROYALTIES

GULF OF MEXICO

PARISH OIL AND GAS PROFILES

 

 

 

LA Royalty and Severance Tax Revenues

Royalties are collected by the state on all oil and natural gas production taking place on state-owned lands and water bottoms. The amount of the royalty is unique to each lease. The royalty represents a portion of the value earned from the wellhead sale of oil and gas.

Severance taxes are collected on all oil and natural gas production within the State of Louisiana out to the three mile offshore boundary. The basic severance tax rate on oil is 12.5 percent of value. The natural gas severance tax rate is adjusted each fiscal year based on an indexing system. The natural gas severance tax has a floor of 7 cents per thousand cubic feet (MCF).

Sources: Louisiana Department of Natural Resources, State Mineral Board, Louisiana Department of Revenue and Taxation
Fiscal Year Royalty Severance Tax
2006-07 $522,500,000 $885,402,493
2005-06 497,870,000 696,603,900
2004-05 558,845,000 693,657,792
2003-04 409,503619 442,730499
2002-03 364,044,293 454,439,365
2001-02 289,639,913 493,479,551
2000-01 309,200,305 434,274,993
1999-00 237,967,797 354,765,574
1998-99 169,201,928 215,805,058
1997-98 260,161,822 319,645,777
1996-97 290,237,561 389,478,777
1995-96 334,759,483 344,302,895
1994-95 286,644,784 364,389,657
1993-94 378,283,186 350,369,033
1992-93 278,720,087 433,993,941
1991-92 231,673,576 474,613,794
1990-91 285,150,318 564,597,041
1989-90 247,120,361 413,872,281
1988-89 251,289,061 397,374,851
1987-88 285,704,881 462,703,208
1986-87 311,300,000 439,236,557