Reactions to the initiative:
“…I applaud the leadership of Commissioner Craddick and pledge our participation and support of her regulatory initiative…”
- Bob Osborne, Chairman of the Texas Alliance of Energy Producers
“The Commission’s efforts could not be more timely given the current economic struggles the industry faces. The Permian Basin Petroleum Association applauds Commissioner Craddick’s leadership of this effort.”
- Ben Shepperd, Permian Basin Petroleum Association President
Selected provisions of the initiative:
Allow a calculated well shut-in pressure to be provided when filing Form G-10 for gas wells to reduce regulatory administrative burden.
Amend Production Requirements for marginal and stripper wells to reduce regulatory administrative burdens.
- Revise “Active Oil Well” definition from ten barrels of oil (BO) per month for 3 consecutive months to five BO per month for 3 consecutive months or any reported production in each month for a consecutive 12 month period (SWR 15)
- Revise “Active Gas Well” definition from 100 mcfg per month to 50 mcfg per month or any reported production in each month for a consecutive 12 month period (SWR 15).
The full press release can be found HERE.
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