Investor Presentaiton
2021-23 and 2023-25 BIENNIUM OIL REVENUES
Compared to January 2023 Legislative Estimate
OFFICE OF MANAGEMENT AND BUDGET
January 2023
2021-23
March 2023
2023-25 (Based on Current Law)
Legislative Estimate Revised Forecast
Change
January 2023
Legislative Estimate
March 2023
Revised Forecast
Change
Tribal Allocations
Allocation
Counties and Cities
Legacy Fund
Foundation Aid Stabilization Fund
Common Schools Trust Fund
$801,720,000
795,680,000
$840,808,922
703,424,956
1,591,930,000
1,597,296,037
$39,088,922
(92,255,044)
5,366,037
$695,590,000
685,530,000
$671,281,380
($24,308,620)
$667,775,860
($17,754,140)
1,373,750,000
$1,341,909,042
($31,840,958)
254,670,000
255,026,052
356,052
224,430,000
$219,404,088
($5,025,912)
254,670,000
255,026,052
356.052
224,430,000
$219,404,088
($5,025,912)
Resources Trust Fund
517,880,000
518,603,405
723,405
455,880,000
$445,578,381
($10,301,619)
Renewable Energy Development Fund
3,000,000
3,000,000
Energy Conservation Grant Fund
1,200,000
1,200,000
3,000,000
1,200,000
$3,000,000
$0
$1,200,000
$0
Oil and Gas Research Fund
14,500,000
14,500,000
10,000,000
$14,500,000
$4,500,000
State Energy Research Fund
5,000,000
5,000,000
5,000,000
North Dakota Outdoor Heritage Fund
18,710,000
15,000,000
(3,710,000)
31,730,000
Abandoned Well and Site Reclamation Fund
15,640,000
15,000,000
(640,000)|
14,820,000
General Fund
400,000,000
400,000,000
Tax Relief Fund
200,000,000
200,000,000
400,000,000
200,000,000
$5,000,000
$15,000,000
$14,970,573
$400,000,000
$200,000,000
$0
($16,730,000)
$150,573
$0
$0
Budget Stabilization Fund
9,650,000
State Disaster Relief Fund
15,510,000
9,646,249
15,511,903
(3,751)
$0
Municipal Infrastructure Fund
Airport Infrastructure Fund
Lignite Research Fund
115,000,000
115,000,000
115,000,000
County/Township Infrastructure Fund
115,000,000
115,000,000
115,000,000
3,500,000
$115,000,000
$115,000,000
$3,500,000
$0
$0
20,000,000
20,000,000
20,000,000
10,000,000
Strategic Investment and Improvement Fund
932,180,000
10,000,000
913,858,454
10,000,000
(18,321,546)
672,280,000
20,000,000
$10,000,000
$658,282,588
$0
$0
($13,997,412)
$5,257,640,000
$5,140,806,000
($116,834,000)
Total Oil and Gas Taxes
January 2023 Legislative Estimate
$6,091,940,000
Oil Price Range for the Remainder of the 2021-23 Biennium:
Oil Price Range for 2023-25:
Average Oil Production Assumption:
March 2023 Forecast
Oil Price Range for the Remainder of the 2021-23 Biennium:
Oil Price Range for 2023-25:
Oil Production Assumption:
$6,022,902,030
($69,039,873)
$80.00 decreasing to 75.00 per barrel (ND Price)
$70.00 per barrel for FY24; $65.00 per barrel for FY25
1.10 million barrels per day for the 2023-25 biennium
$75.00 per barrel (ND Price)
$70.00 per barrel for FY24; $62.00 per barrel for FY25
1.10 million barrels per day for the 2023-25 biennium
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