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TX Legislature Pre-Empts Fracking Ban
“World Oil” reports that the Texas Senate just passed legislation prohibiting local jurisdictions from banning oil and gas drilling. The bill is widely regarded as a win for the energy industry and now goes to Governor Greg Abbott who has indicated he will sign it into law. The battle in the Texas legislature is seen… Read More
Statoil’s Alternative View
While most other majors are slashing budgets, rig counts and payrolls, Statoil chooses to merely snip, according to an article in “Rigzone”. In fact, the Norwegian giant is cutting back less than any of its peers. Major oil companies are reducing spending by an average of over 20%. Even ExxonMobil, known for taking the long… Read More
Self-imposed Sanctions?
“World Oil” reports that Senators Lisa Murkowski (R-Alaska) and Heidi Heitkamp (D-North Dakota) have proposed an amendment to the Iran Nuclear Agreement Act which would lift the crude oil export embargo. Murkowski and Heitkamp contend that the export ban is a de facto sanctions regime which we have imposed on ourselves. It prohibits U. S.… Read More
Total Still Cautious
Patrick de La Chevardiere, Chief Financial Officer of French oil giant Total SA, thinks that potential acquisitions are still too expensive, according to a recent article in “Rigzone”. Many industry observers predicted a wave of consolidation deals after Shell announced its merger with British Gas. However, La Chevardiere feels that the price Shell paid was… Read More
A View from Austin
Todd Morgan, President of Morgan Capitol Consulting, recently addressed a meeting of the Houston Association of Professional Landmen. Morgan is a legislative liaison, commonly known as a lobbyist, who endeavors to influence legislation on behalf of the energy industry. His remarks covered a number of topics, but his primary emphasis was on fracking, tax cuts… Read More
