Oil & Gas Drilling In El Paso County Could Bring Profits

The drilling of oil and gas wells in El Paso County has potential to bring major economic growth to the area.

“If you take a well that produces something in the neighborhood of $1.3 million in production a year just over $1.1 million of that is taxable value,” said Mark Lowderman the county Assessor.

Wells that have produced those kind of numbers can be taxed at over 87 percent, which could bring a pretty good profit to the general fund and schools in the county.

Lowderman explained the potential for profit, “for a well with that kind of production we’d get about $9,000 (for the county), if you use one of the school districts that will be effected, take Falcon 49. From that one well, they could see almost $55,000 using the current levy.”

According to Lowderman the only unknown now is how many wells will produce those types of numbers.