Oklahoma Oil & Natural Gas remains a crucial pillar of the state’s prosperity and is yet again the most significant source of tax revenue.
The oil and natural gas industry provided record funding in Oklahoma in 2024 and supported more than 250,000 jobs. These dollars are making an impact on the local level too, helping fund education and county roads.
A recent study performed by RegionTrack found the oil and natural gas industry contributed $60.3 billion to the state’s GDP in 2024, which accounts for 23% of all statewide economic activity. The industry contributed a record $3.2 billion in total taxes in 2024. These record receipts provided $132 million to the state’s Revenue Stabilization Fund.
Unlike any other industry in the state, oil and natural gas also directly provided $89 million to school districts and an additional $89 million to county roads and bridges. The sector also continues to generate household incomes across the state, employing over 250,000 workers with $54 billion in household earnings. Said another way, $1 in every $5 of total statewide income is generated by oil and natural gas.
As the key contributor and driver of job creation, tax revenue, and household income, the industry continues to play a crucial role in shaping the state’s economic future. Just as important, the people of Oklahoma Oil and Natural Gas are producing reliable, affordable, sustainable energy to make our modern life go.
See the report below.
2024 Economic Impact Update report.
As the key contributor and driver of job creation, tax revenue and household income, the industry continues to play a crucial role in shaping the state’s economic future. Just as important, the people of Oklahoma Oil & Natural Gas are producing reliable, affordable, sustainable energy to make our modern life go.
2024 County-by-County factsheets.
To view each county contribution, click the map below.
