Special to the Daily News
The Kentucky Oil & Gas Association (KOGA) is releasing figures for oil & gas production during 2012 for the Commonwealth of Kentucky. According to reports from the Kentucky Department of Revenue, natural gas gross production value in 2012 was $348,084,544 while oil production topped out at $280,572,555 for a combined total of $628,657,100.
Top producing counties included Floyd ($130,095,988), Pike ($72,710,332), Letcher ($49,415,795), Bell ($29,579,550), Knott ($27,662,577), Lee ($24,120,523) and Martin ($14,547,204). Henderson ($19,917,371) and Union ($14,728,206) counties were the largest oil producer counties outside Kentucky’s Appalachian Basin region.
“Kentucky’s oil and natural gas producers support local economies and provide good jobs to hard working Kentuckians,” stated Doug Hyden, KOGA’s President. “We’re looking to the future to grow jobs and increase production in the Commonwealth.”
Thirty-four Kentucky counties reported active natural gas production in 2012 while 60 counties reported oil production.
The Kentucky Oil & Gas Association was formed in 1931 to represent the interests of Kentucky’s crude oil and natural gas industry. Kentucky has over 44,800 active wells, of which, 25,500 are oil wells and 19,300 are natural gas wells. Nationally, Kentucky ranks 22nd in oil production and 18th in natural gas production. The industry is responsible for 6,300 direct jobs and contributes $55 million in payroll to Kentucky.