Petroleum Independent articles from May 1992

Petroleum Independent archives from May 1992

An independent voice. (publicizing the crisis in the petroleum industry) (Column)
May 1, 1992... Dear Independent: I am pleased to report there are some in Washington who "give a damn." As many of you know, Chairman Gene Ames Jr. had taken to calling me Scarlett--because all we have heard is "Frankly my dear, we don't give a damn." But...

Independents support energy bill. (independent petroleum producers)
May 1, 1992... Enactment of National Energy Strategy legislation (HR 776) moved another step closer with the Senate Finance Committee approval on June 11 of a tax title to the Senate bill. The bill next goes to the Senate floor, and then to a House-Senate...

Don't underestimate independents. (independent petroleum producers)
May 1, 1992... When a lengthy article on the U.S. petroleum industry appeared in the April 20 edition of the Wall Street Journal, IPAA Chairman Gene Ames Jr. wrote a response to clarify key issues. The following "letter to the editor" was published May 26:...

Committed to saving an industry. (independent petroleum producers) (Industry Overview)
May 1, 1992... As Republicans and Democrats prepare for their summer conventions, platform committees for both parties have been meeting to draft positions. On April 13, IPAA Chairman Gene Ames Jr., Venus Oil Co., San Antonio, and former IPAA Chairman C. John...

U.S. drilling costs fall with rig count. (Facts & Forecasts) (Column)
May 1, 1992... The IPAA Petroleum Cost and Finance Committee has released its 1991 index of the cost of drilling and equipping an average well in the United States. The results reflect the industry's severe drilling downturn, and the surplus capacity in the...

Uniting for U.S. energy. (includes transcript of Eugene Ames Jr.'s speech)
May 1, 1992... A healthy domestic oil and natural gas producing industry is fundamental to the nation's energy security and economic well- being. Today independent producers believe their industry's survival is in serious jeopardy--largely because of government...

Watkins blames Democrats and extremists. (Secretary of Energy James D. Watkins)
May 1, 1992... Democrats in Congress are blocking passage of the desperately needed national energy strategy, Secretary of Energy James D. Watkins told a special session of the Independent Petroleum Association of America Crude Oil Committee on May 7. "What are...

Saying no to more RCRA. (Resource Conservation and Recovery Act)
May 1, 1992... Environment & Safety Committee Congress is debating reauthorization of the Resource Conservation and Recovery Act, and there have been proposals for additional federal regulation of oilfield wastes. Some environmentalists have proposed...

Ray exposes "noble lies." (Dixy Lee Ray on environmentalism)
May 1, 1992... "I'm delighted to be here, to be among people who are interested in and working toward a better life through assurance of the production of enough energy that is required for our civilization," said Dixy Lee Ray, former governor of Washington,...

Fewer but better rigs finding gas. (oil well drilling rigs)
May 1, 1992... Petroleum Cost & Finance Committee "Improved Drilling Efficiency Helps to Keep Natural Gas Prices Weak," a presentation by John Mahedy of Morgan Stanley & Company Inc. was among the May 7 highlights of the Independent Petroleum Association of...

Cooperation can open markets. (promotion of natural gas)(includes related article on Natural Gas Association Chairman Richard Farman's speech)
May 1, 1992... Natural Gas Committee New ways to promote natural gas use in cogeneration, base-load electrical generation, and transportation were among the topics discussed May 8 by the Independent Petroleum Association of America Natural Gas Committee,...

Enron Chairman says push the product. (Kenneth Lay)
May 1, 1992... "I perceive IPAA has been re-energized and is certainly doing an extremely effective job in Washington and around the country," said Kenneth Lay, chairman and CEO of Enron Corp., Houston, to members of the IPAA Natural Gas Committee. "I think if...

Millions of acres of secure energy. (federal land with oil and gas leases)(includes related article)
May 1, 1992... Public Lands Committee The federal government owns a total of 724 million acres of land in the United States, 31 percent of all American land area. In 1983, more than 167 million acres of federal and Indian lands, 23 percent of the total, were...

Litigating for fairness. (petroleum industry)
May 1, 1992... America's economic troubles are multiplied by an overly aggressive land acquisition policy, according to Perry Pendley, president and chief legal officer of the Mountain States Legal Foundation, a Denver-based public-interest foundation. In...

AMT reform or bust. (alternative minimum tax on oil drilling)
May 1, 1992... IPAA Tax Committee Deductions for drilling costs and depletion--allowed for over 60 years--must be reinstated, and the alternative minimum tax is the single greatest penalty in the tax code on domestic drilling, according to the midyear...

Hedging on NYMEX. (New York Mercantile Exchange)
May 1, 1992... Energy futures offer a standard reference point for valuing oil and natural gas, Louise Burke of NYMEX told independent producers May 7 at the IPAA midyear meeting. The marketing manager for crude oil said futures link today's spot market price...

Arch W. Deuel receives Karney Cochran award.
May 1, 1992... Arch W. Deuel, of Casper, Wyo., celebrating his 40th anniversary this year as an independent oil and gas lease broker and a recognized leader in the oil and gas industry, has been named the 1992 recipient of the IPAA Karney Cochran Award. The...

The resurgence of natural gas.
May 1, 1992... The uncertainties that have plagued the production, transportation and storage of America's huge supply of natural gas will soon be gone, according to Martin L. Allday, chairman of the Federal Energy Regulatory Commission. "I'm here to tell...

The promise of natural gas vehicles.
May 1, 1992... U.S. independent natural gas producers should set their sights on OPEC and reclaim their lost market share, T. Boone Pickens told IPAA members gathered at the association's midyear meeting in Orlando. Pickens, president of Mesa Limited...

Alaska asks for independents. (independent petroleum producers)
May 1, 1992... 'North to the future' is the motto of our state, and as I said at IPAA's May meeting in Orlando, (general session, May 8) I believe Alaska promises a bright future for independents. To illustrate our state's vast potential, if you superimpose a...

In defense of our constitutional rights. (Energy Litigation) (Column)
May 1, 1992... Editor's Note: This month begins a new column on industry litigation with a contribution from Executive Committee member Conley Smith, who recently finished a term as chairman of the Mountain States Legal Foundation. MSLF is a Denver-based, non-...

An inside view of treasury. (Deparment of the Treasury) (Tax Talk) (Column)
May 1, 1992... Tara Lewis IPAA Resident Tax Specialist Along with Kyle Bibb of the Joint Committee on Taxation, we were fortunate to have Barksdale Penick from the Department of the Treasury at IPAA's midyear meeting in Orlando. Penick spoke to our May 8 Tax...