Revenues from oil and natural gas leases on onshore federal lands totaled $8.497B in 2023, according to a new Congressional Research Service.

Federal oil & natural gas leasing revenue tops nearly $8.5 billion in 2023

/0 Comments/in /by

Revenues from oil and natural gas leases on onshore federal lands totaled $8.497 billion in 2023, according to a new Congressional Research Service (CRS) report. In fact, oil and natural gas leasing represents a whopping 93 percent of the total federal revenue from all leasable minerals and geothermal on onshore federal lands.

In the past ten years, these revenues have consistently increased, exemplifying the ongoing, strong contributions the industry provides to the United States.

Source: Department of the Interior (DOI), Office of Natural Resources Revenue (ONRR)

The report comes on the heels of a major shift in federal support for oil and gas development on federal lands, with the Trump Administration making significant strides to streamline permitting and increase federal development.

Click here to read the full article
Source: Energy in Depth

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

You might also like
Major companies' recent mergers and acquisitions of independent oil firms have positively reshaped the energy industry in the Permian Basin.Big oil mergers promise greater stability
Despite the Biden administration's ambitious climate goals, the oil & gas industry in the US has seen unprecedented growth and profitability.US oil and gas companies profits skyrocket as the US becomes the energy supplier of choice
The Texas Electricity Supply Chain Map now includes more information that will assist state emergency officials during disasters.Texas regulators unveil new oil, gas, utility infrastructure map to assist during extreme weather
The oil and gas industry has experienced a number of booms and busts over the past few decades, but for now, it appears to be flush with cash.Oil and gas companies are swimming in so much cash that they’re cutting back on borrowing at a faster pace
Year-to-date through July 2023, TX accounts for 43.3% of all oil production and 27.4% of all natural gas marketed production in the country.Report: Texas oil and natural gas industry breaks decades-old production records
US DOI announced that it generated over $39 million in total receipts from oil and gas lease sales held in the first quarter of 2025.USA DOI generates $39MM from 1Q 2025 oil, gas lease sales
The US and its core allies see rising oil and gas prices as serious economic and political threats to them.Why OPEC+ will do whatever it can to send oil prices higher
The US and its core allies see rising oil and gas prices as serious economic and political threats to them.US oil and gas output still rising in response to high prices last year
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *