Blue Ribbon Task Force for Oil Economic Recovery Encourages Regulatory Relief to Help Texas Producers: TIPRO
May 5, 2020
Today, the Railroad Commission of Texas convened for its monthly commissioners’ conference to discuss pending business and regulatory matters, as well as receive an update from the Blue Ribbon Task Force for Oil Economic Recovery. This task force was formed last month by the commission’s chairman, Wayne Christian, to evaluate solutions that will assist oil and gas operators and save jobs as the industry endures historic and unprecedented challenges. Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association (TIPRO), provided testimony during Tuesday’s public hearing on behalf of the task force and its list of recommendations for consideration by the Railroad Commission. On Tuesday morning, leaders of the Railroad Commission also voted against a proposal to impose limits on oil production in Texas. The following statement can be attributed to Mr. Longanecker:
“On behalf of the Blue Ribbon Task Force for Oil Economic Recovery, I was pleased this morning to update the commissioners of our collective recommendations to keep oilfield workers employed and help Texas operators to survive these exceptionally difficult circumstances.
The recommendations developed by the task force are designed to be broad, yet comprehensive, and include fee relief, relaxed reporting requirements, additional deadline extensions and other mechanisms to expand storage capacity in Texas. The focus of the group’s suggestions is above all-else to provide small producers with regulatory relief at this time, though when possible, the task force encourages relief be granted to all operators, regardless of size, as this crisis does not discriminate and is negatively impacting every sector of the industry…..