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Illinois Oil and Gas Act (225 ILCS 725) provides for the conservation of oil and gas resources through the protection of correlative rights, proper well spacing, integration and unitization of mineral interests; and for the regulation of the drilling, construction, operation, and plugging of oil and gas production ...
The Illinois Basin covers 59,000 square miles in the Tri-state area of Indiana, Illinois, and Kentucky. It contains coveted high gravity, low sulfur oil. The average pay zones range from 1,000 feet to approximately 5,000 feet deep with an average depth of 3,000 feet.
Definition. The Gas Use Tax Act is imposed on persons who purchase natural gas from outside of Illinois for their own use (not for resale). Purchasers may pay the Gas Use Tax to their distributor or may elect to become a self-assessor.
Illinois crude oil production totaled 7,227,842 barrels in 2022, ing to data compiled by the Illinois Petroleum Resources Board (IPRB) that is based on first-purchaser reports. Click here to download IPRB's annual Illinois oil production report.
There are approximately 32,100 oil and gas production wells, 10,500 Class II injection wells and 1,750 gas storage wells in Illinois. These wells are controlled by 1,500 operators. There is oil production in 40 of the 102 counties in Illinois. Most of the production is located in the southern part of Illinois.