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State Oil, Gas Revenue Up for First Time in Almost 2 Years

Ken Miller

 

Oklahoma's treasurer says state tax collections from oil and gas revenue production are up for the first time in almost two years.

The Oklahoman reports that October's gross production collections of $35.1 million were more than October 2015 collections by 8.9 percent.

October gross production collections are based on production activity from August when West Texas Intermediate crude oil sold for an average of $44.72 per barrel.

Treasurer Ken Miller says monthly gross production collections have increased along with crude oil process since April.