Illinois Petroleum Resources Board

ICYMI: Executive director Seth Whitehead talks about IPRB's plans for this year in the first Hometown Energy video podcast of 2024.

IPRB recently completed the following abandoned tank battery restoration project in Hamilton County. Click the following link to find out more about IPRB's abandoned tank battery site reclamation program, which has completed nearly 600 similar projects at no cost to landowners and his been made possible by voluntary funding from Illinois oil producers and royalty owners. Find out more ?? https://lnkd.in/etYdn75q

We appreciate the Mt. Carmel, White County and Richland County CEO programs for taking in a presentation today by IPRB executive director Seth Whitehead and oil and gas attorney Matthew McArthy at the Illinois Oil & Gas Association Trade Show and Convention. The students also visited the IPRB booth to learn more about an important industry in the communities and the importance of oil and gas to everyday life.

Be sure to check out our booth if you are at the Illinois Oil & Gas Association Convention and Trade Show this week. We have Illinois Basin Proud gear, interactive kiosks, video displays and tons of info on the importance of the Illinois oil production industry and oil and natural gas to our everyday lives!

Did you know? Illinois' active oil production leases are assessed and taxed as real estate, similar to property taxes paid on a residential home. All of the revenue collected from this tax – known as an ad valorem tax – stays at the local level and goes directly to support the areas where oil is produced, including counties, villages, townships, cities, and – most importantly – local schools. An IPRB review of the latest Illinois Department of Revenue (IDOR) data shows that Illinois oil reserves generated $121.1 million in ad valorem tax revenue from 2007 to 2023, an average of more than $7.12 million per year. IPRB details this revenue in an updated annual report that can be downloaded below ??

Did you know? The typical Illinois oil production company produces 12-13 barrels per day and has 2-3 employees. We are not "Big Oil," but we do make a big economic impact in the state. Find out more ?? ?? : https://lnkd.in/gQ9Fzcpt ?? : https://lnkd.in/ezsXx4k ???? ??? ??

We had the pleasure of making a presentation to about 40 high school students from Carmi-White County High School and other White County schools to kick off today's 4th Annual Illinois Basin Celebration. Huge thanks to industry volunteers Ross Basnett, Mike Payne, Travis Thompson and Bill Dorsch for presenting, and Lonnie Schultz and his team at Franklin Well Services for showing the students oilfield equipment. Topics covered included oil and gas career opportunities, exploding energy demand throughout the world, the geologic conditions that have allowed White County to double oil production since 2008 and the importance of the industry to White County and southeastern Illinois.

Tip of the hard hat to the 200-plus Illinois Basin oil and gas industry professionals who attended today's 4th Annual Illinois Basin Celebration! We had terrific presentations from Mark Weiler and Alan Hatten, great food from The Smokin' Pig and perfect weather. Also a huge thanks for the 404 Seed Station in Carmi for allowing us to utilize their facility. Already looking forward to next year! ???? ????

We are all set up for tomorrow’s Illinois Basin Celebration! We’re expecting a crowd of around 200 and great weather. We’ll have Illinois Basin Proud hoodies and stocking caps this year. We’ll also make presentations and have oilfield equipment demos for students from Carmi-White County High School and Southeastern Illinois College’s Carmi Campus. Looking forward to a great day recognizing Illinois Basin oil patch workers!