The Oil and Gas Industry in the Illinois Economy
The Illinois oil industry, through the Illinois Oil and Gas Association, self-funds programs to promote safe, responsible oil field and oil production strategies, and programs to restore orphaned well sites. They conduct educational outreach, and provide funding for research and service to make data accessible to the industry and public. This vehicle is known as the Illinois Petroleum Resource Board, or IRPB. As the country’s 15th largest oil-producing state, Illinois oil production provided over 9 million barrels of crude oil in 2008.Over 90% of the estimated 16,000 oil producing wells in Illinois are marginal wells, producing 1 to 2 barrels per day. Illinois oil production is mature in nature with only limited gas production at this time. The Illinois oil and gas industry employs approximately 4,209 direct jobs and has a direct impact on an additional 9,843 jobs throughout the state. The industry contributes $769 million in income directly, and an additional $518 million in income elsewhere in the state’s economy. The full array of industries affected by the oil & gas industry pays a total of $713 million in tax revenues.
AAPG Search and Discovery Article #90095©2009 AAPG Eastern Section Meeting, Evansville, Indiana, September 20-22, 2009