May 5, 2020
The following can be attributed to Todd Staples, president of the Texas Oil & Gas Association:
“We are pleased that the Railroad Commission will not be pursuing proration because that approach would have made matters worse. The market is a much better arbiter of production than artificial government mandates. There are, however, solutions the Commission can adopt that will be helpful as operators weather this economic crisis. As a member of the Railroad Commission’s Blue Ribbon Task Force for Oil Economic Recovery, TXOGA welcomed the opportunity to work with other industry leaders to make comprehensive recommendations to the Commission on regulatory, operational, legal, and tax solutions that can allow Texas producers to recover within the context of the free market. We are encouraged that the Commission today adopted some of the recommendations and believe their action will be meaningful to maintain jobs for employees and survival for employers.”
CLICK HERE for the complete Blue Ribbon Task Force recommendations to the Railroad Commission.
CLICK HERE for the letter sent to the Railroad Commission on behalf of the Blue Ribbon Task Force.
Founded in 1919, TXOGA is the oldest and largest trade association in the State representing every facet of the Texas oil and natural gas industry.