The Independent Fiscal Office Wednesday released an update report on Act 13 drilling fee revenues estimates the drilling impact fee will result decline from $208.6  million to $189.6 million in revenue from a total of $223.5 million in 2014.

The IFO says reductions in revenue will be caused by--

-- Declines in the price of natural gas resulting in a reduction of about $5,000 per well in 2015;

-- Decline in the number of wells brought into production in 2015 when they pay the highest fees.  They noted so far in 2015 no wells have been brought into production.

-- Existing wells pay lower fees over time.

A copy of the report is available online.

6/29/2015