Montana is a leading energy producer.
- Montana produces enough oil to fuel almost 800,000 cars and heat over 300,000 homes a day and enough natural gas to heat more than one million homes a day.
- 10th in the nation, Montana produced 24.7 million barrels of crude oil in 2004.
- 19th in the nation, Montana produced 86,027 MMCF of natural gas in 2003.
- Montana’s future energy resources are even greater – proved oil reserves are 364 million barrels and proved natural gas reserves are 995 billion cubic feet.
Oil and Natural Gas are fueling Montana’s economy.
- The oil and natural gas industry is one of Montana’s top employers, accounting for more than 3,100 jobs (direct and indirect wage earners).
- Oil and natural gas exploration and production employees in Montana are earning an average of $43,000 (direct and indirect wage earner) – which is 66% higher than the state’s average earnings of $26,434.
- In 2004, the oil and natural gas industry accounted for more than $92.7 million in state tax revenue. (MT Department of Revenue, FY04)
- In 2005, Montana received $35.6 million as part of its share of federal revenues collected by the Minerals Management Service. (US Minerals Management Service)
Oil and Natural Gas give back to Montana’s communities.
- In 2005, the oil and natural gas industry paid $19.1 million from bonuses, rentals and royalties - used by Montana to support public education. (MT Trust Land Management Division, FY05)
- Oil and natural gas taxes are used to fund environmental protection and local governments. In addition, other taxes from the industry are levied directly to fund universities, local schools, cities/towns, counties, fire service and transportation.
Department of Natural Resources and Conservation of the State of Montanta, Oil and Gas Conservation Division, Annual Review 2004
US DOE/EIA, Natural Gas Annual 2003
US DOE/EIA, US Crude Oil, Natural Gas, and Natural Gas Liquids Reserves 2004 Annual Report