More than half of North Dakota’s 20,000 oil wells are designated “stripper” wells, meaning they produce low levels of oil and are thus exempt from a tax on oil companies. The North Dakota Monitor, with support from the Fund, found that 700 oil wells no longer qualify for the tax break but continue to receive it – costing the state $66 million in tax revenue this year alone. Responding to the Monitor’s investigation, several state legislators said they plan to address the issue when the legislatures reconvenes.
Grantee investigation finds that North Dakota on pace to lose $66 million from oil tax break; legislators vow to take action
