Illinois Relinquishment Provision - All offset Wells
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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.
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.
Commencing January 1, 2025, the bill would require all oil or gas production facilities or wells with a wellhead within a health protection zone to comply with specified health, safety, and environmental requirements, as provided.
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 LARGEST PRODUCER IN THE ILLINOIS BASIN. Our mission at Campbell Energy is to deliver outstanding operating and financial results by building a portfolio of oil properties utilizing a ?pure play? growth-oriented strategy.
