From Deseret News archives:
Utah energy business grows, revenues soar
The number of permits issued this year is expected to set a new record, according to Utah Division of Oil, Gas and Mining, which approves the permits.
"We'll be well past the 1,800 mark," said Jim Springer, a spokesman for the division. "We could hit 2,000."
Last year, the division issued 1,629 permits.
And more drilling permits means more money into Utah's general fund.
In fact, net revenue for the fund from oil and natural gas production reached a record $77.4 million in the 2006 fiscal year ended June 30, up 44.6 percent from $53.5 million the prior fiscal year, according to Charlie Roberts, a spokesman for the Utah State Tax Commission.
Drilling activity has intensified as oil prices have skyrocketed. On Friday, crude oil for September delivery fell 71 cents, or 0.9 percent, to close at $74.75 a barrel in floor trading on the New York Mercantile Exchange. But prices, which gained 2 percent this week, are up 22 percent from a year ago, according to a Bloomberg News story.
Springer said the division recently hired a couple of new people to keep up with the demand.
"It's definitely put a heavy workload on them," Springer said. "They have to work pretty feverishly to keep up."
E-mail: danderton@desnews.com
Comments
- Hotline doctors field colon questions 3:18 p.m.
- No. 22 BYU holds off pesky Lobos 3:14 p.m.
- MGM says it's looking for buyer 3:01 p.m.
- No. 7 Ga. Tech routs Duke, 49-10 2:54 p.m.
- Sunday TV news shows guests 2:52 p.m.
- Heroine names: Worthy women, icons 2:44 p.m.
- Open letter to son on 16th birthday 2:41 p.m.
- Bamboo not an instant nightmare 2:40 p.m.
- Yardsmart: Delectable winter greens 2:37 p.m.
- Flowers in a beautiful setting 2:35 p.m.
- Apostle's wife felt comfort in attack
- Short-handed Jazz fly past Sixers
- Can BYU root for (ick) Utah Utes?
- D-Will home for daughter
- Bench proves fruitful for Y.
- Utes excited for 'dream' game
- Born of water and the spirit
- Man killed during 3rd I-15 crash
- Woods Cross refinery to shut down
- 5A: Bingham rolls to title game
- SLC council OKs gay rights policies
352 - Editorial: Mormons and gay rights
199 - Senators want food tax restored
164 - Will state consider gay rights law?
146 - Letters: Strange breed in Utah
129 - Utes remain silent about BCS
120 - Can BYU root for (ick) Utah Utes?
118 - S.L. vote pending on gay protections
113 - Pratt pleads not guilty to sex charges
105 - Celtics crush Jazz
104
If you are looking for a bird on the cheap, the following specials from...
Maybe someone out there can help me understand how raising the state...
Let's face it, Mitchell will always be singing some song in the courthouse to...
I think its funny that all these ignorant people sit and read the Articles on...
While I will agree we need to do a lot more the share the gospel with our...
Oh wait that's a 0-9 team. Air Force and Utah are next. Bronco: "Two...
@MormonDem Right. You were in the room and that's what was said? Or are...
Calm down! utah state, weber, westiminister, and slcc are barely mentioned...
Owning a dog is not a right. It is a privilege. Some dog owners own up to...
3:04 not all Muslims are terrorists but all terrorists are Muslim. No...
And this story got posted on the DNews, why?
Face a kicker and you lose. What a pathetic performance by byU against the...


You can be the first to comment on this story.