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Treasurer: Oil and gas tax collections slide to 17-year low

OKLAHOMA CITY (AP) — Monthly tax collections from oil and natural gas production in Oklahoma slid to the lowest level in 17 years, totaling just $20.8 million in the month of April.

State Treasurer Ken Miller released figures on Friday that show overall collections to the state treasury in April were $1.18 billion, the lowest April total in four years. It’s about $140 million, or nearly 11 percent less, than collections in April 2015.

Miller says the oil and natural gas receipts are based on production in February, when oil was around $30 per barrel. The price of oil has since rebounded and is trading this week at closer to $45 per barrel.

Miller reported that gross receipts to the treasury over the last 12 months totaled $11.26 billion, the lowest since June 2013.

Related: Montana oil and gas lease cancellation challenged in US court.

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