Newspaper article THE JOURNAL RECORD

Hearing to View Reductions in Natural Gas Allowables

Newspaper article THE JOURNAL RECORD

Hearing to View Reductions in Natural Gas Allowables

Article excerpt

Revised proposed reductions in natural gas allowables will be the subject of an Oklahoma Corporation Commission public hearing Thursday and Friday.

The commission staff recently revised proposed oil and natural gas rule changes to reflect a natural gas allowable of 37.5 percent of maximum open flow for wells capable of producing more than 2 million cubic feet of natural gas per day. The revised allowable is a reduction from the current 50 percent allowable rate, yet would be half the reduction proposed initially.

Wells capable of producing no more than 2 million cubic feet of natural gas per day would be allowed to produce up to 750,000 cubic feet per day, a reduction from the present 1 million cubic feet.

The proposal also seeks to change rules concerning gas well and gas pool classification, well test requirements and procedures and special allocated gas pools.

The hearing begins at 9:30 a.m. in the Commissioners' Courtroom, third floor of the Jim Thorpe Building. . .

- Change won't come to the energy industry until the president and congress are alerted, according toJune Brooks, founder and president of June Brooks Oil & Gas Co. of Ardmore.

Speaking to Women In Energy members Wednesday, Brooks gave audience members pre-stamped postcards and asked them to write comments to President Reagan, Oklahoma's senators and representatives in Washington, D.C., and influential members of Congress on the Senate Finance and Energy and Natural Resources Committees.

Unless people in the energy industry get involved in politics, she said, the energy and agricultural problems facing this region will not be solved.

Legislation written in Washington is crippling the industry, Brooks said, noting that moratoriums on exploration areas are affecting the oil and natural gas industry's future, because the oil and natural gas found now will be used in the next century.

The nation is sending $60 billion per year to foreign countries for imported oil, she stated. If oil prices are maintained at $18 per barrel, production will fall by 5 million barrels per day by 1991.

"It's not long before the independent and service sectors of the industry cease to exist," Brooks said.

Brooks said she supports Sen. David Boren's five-point program for easing the tax burden on the industry. Boren proposes a repeal of the windfall profit tax, an increase in the percentage depletion allowance and an oil-import fee, among other proposals. . .

- The Society of Petroleum Engineers will hold its Oklahoma City section meeting Thursday in the Whitehall Club.

Claude R. Hocutt, a Society of Petroleum Engineers Distinguished Lecturer Emeritus for 1986-87, will address the use and importance of high technology in oil and natural gas production operations.

The social hour begins with a 5:30 p.m., with dinner served at 6:15 p.m. ($13 to members) and the program begins at 7:15 p.m. The Whitehall Club is in Fidelity Plaza. . .

- A briefing on the Oklahoma Corporation Commission's well data maintenance system will be held at 10 a.m. Feb. 26 for oil and natural gas companies and individuals involved in drilling and production in the state.

The system provides computerized tracking of current and historical data on all oil and natural gas wells in Oklahoma.

In the final phase, which will be discussed in detail during the briefing, oil and natural gas production information will be brought into the central data base, which already includes surety, intent-to-drill and well inventory information and procedures. …

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