Economic Impact

Jobs

The Oil and Gas Industry employs more than 4,000 direct and 10,400 indirect jobs in the state of Ohio.

Personal Income

The Oil and Gas Industry, via its multipliers, is responsible for $730 million per year in personal income in the State of Ohio.

Consumer Impact

Ohio and its residents keep approximately $1 billion per year in state when buying locally-produced natural gas and crude oil, and Ohio consumers collectively save $65 million per year in avoided interstate pipeline transportation cost and the price reducing impact of having local supplies compared to other parts of the country.

Tax Revenue

Last year, Ohio’s Oil and Gas Industry paid over $57.5 million per year in severance, property, commercial activity, federal, state and local taxes.  These taxes are used to fund many of the programs that benefit everyone in the state!

Gross State Product

The Oil and Gas Industry generates approximately $1.5 billion in Gross State Product and a state-wide output or sales of $3.1 billion per year.

Royalties

Ohio’s Oil and Gas Industry generated royalty payments of over $126 million last year, and provided an additional $75 million in “free” natural gas to landowners.

Cutter Oil has a proven ability to get the most out of our wells. Our wells produce more in the beginning and have a much longer life than any competitor, ultimately translating into more money for our landowners.

 
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