West Virginia’s natural gas and oil industry continues to be a major contributor to the state’s economy, generating over $660 million in state revenue during the 2023-2024 fiscal year through severance and property taxes.
The industry supports more than 15,000 direct jobs and an additional 73,000 indirect jobs, offering an average annual salary of over $97,000. Investments in downstream manufacturing, power generation, and alternative fuel development have further expanded job opportunities for local workers.
One of the industry’s key priorities is the expansion of natural gas-fired power generation, particularly to meet the increasing energy demands of AI and data centers. Industry leaders emphasize the importance of boosting power production to attract energy-intensive businesses to the state.
State officials are also focusing on microgrid investments, which could help position West Virginia as a hub for advanced energy infrastructure. These efforts align with recent initiatives aimed at making West Virginia a leader in energy production and economic development.
In January, West Virginia secured the authority to oversee and administer the Class VI well program, allowing for the regulation of carbon storage projects within the state. This move is expected to attract new investments, create jobs, and support carbon capture initiatives to reduce emissions.
West Virginia remains one of the top natural gas-producing states in the country. As part of the Marcellus Shale region, the state holds significant shale gas reserves and has seen record production levels in recent years. The continued growth of the industry highlights its role in shaping the state’s economic and energy future.
