| Appendices |
Appendix 6
Fees Collected by the State of Michigan During the Depression from the Oil and Gas Industry
The state of Michigan collected $3 million in oil and gas lease bonuses, royalties, rentals, assignment and miscellaneous fees during the Depression, besides the aforementioned taxes.
Year |
Avg./Bbl. |
Production (bibles) |
Wellhead Value |
2001 $s |
1929 |
$1.27 |
4,528,000 |
$ 5,750,560 |
$ 56,982,822 |
1930 |
$1.19 |
3,911,000 |
4,654,090 |
48,028,006 |
1931 |
$0.65 |
3,789,000 |
2,462,850 |
29,021,692 |
1932 |
$0.87 |
6,910,000 |
6,011,700 |
81,909,413 |
1933 |
$0.67 |
7,942,000 |
5,321,140 |
76,694,778 |
1934 |
$0.99 |
10,603,000 |
10,496,970 |
143,021,216 |
1935 |
$0.97 |
15,776,000 |
15,302,720 |
199,163,759 |
1936 |
$1.09 |
11,928,000 |
13,001,520 |
164,309,064 |
1937 |
$1.18 |
16,678,000 |
19,680,040 |
233,482,924 |
1938 |
$1.13 |
18,745,000 |
21,181,850 |
256,535,739 |
1939 |
$1.02 |
23,462,000 |
23,931,240 |
298,114,845 |
1940 |
$1.02 |
19,753,000 |
20,148,060 |
249,207,210 |
1941 |
$1.14 |
16,359,000 |
18,649,260 |
216,828,730 |
Totals |
|
160,384,000 |
$166,592,000 |
$2,053,300,197 |
Michigan Natural Gas Wellhead Prices - The Depression Years
Year |
Avg./Mcf |
Production (Mcf) |
Wellhead Value |
2001 $s |
1929 |
$0.09 |
1,452,000 |
$ 130,680 |
$ 1,294,930 |
1930 |
$0.08 |
2,167,000 |
173,360 |
1,788,993.14 |
1931 |
$0.07 |
594,000 |
41,580 |
489,969.73 |
1932 |
$0.06 |
1,433,000 |
85,980 |
1,171,477.50 |
1933 |
$0.05 |
1,698,000 |
84,900 |
1,223,682.64 |
1934 |
$0.05 |
3,008,000 |
150,400 |
2,049,200.76 |
1935 |
$0.06 |
5,554,000 |
333,240 |
4,337,093.73 |
1936 |
$0.06 |
6,865,000 |
411,900 |
5,205,460.87 |
1937 |
$0.05 |
9,311,000 |
465,550 |
5,523,259.86 |
1938 |
$0.05 |
9,233,000 |
461,650 |
5,591,094.44 |
1939 |
$0.05 |
10,137,000 |
506,850 |
6,313,902.86 |
1940 |
$0.05 |
14,126,000 |
706,300 |
8,736,079.43 |
1941 |
$0.05 |
15,092,000 |
754,600 |
8,773,482.67 |
Totals |
|
80,670,000 |
$4,306,990 |
$52,498,628 |
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