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DEPA NEWS
  • 14
    November

    Harold G. Hamm named Chief Roughneck by US Steel Tubular Products

    United States Steel Corporation

    Today, US Steel Tubular Products, Inc., a subsidiary of United States Steel Corporation, announced that Harold G. Hamm, chairman and chief executive officer of Continental Resources, is the recipient of the 2016 Chief Roughneck Award. The announcement was made at the 87th annual meeting of the Independent Petroleum Association of America (IPAA).

    US Steel Senior Vice President -Tubular Business David Rintoul presented Hamm with the traditional Chief Roughneck bronze bust and hard hat when recognizing Hamm. 

    "Harold is a tireless advocate for America's energy independence," said Rintoul. "He is a fighter, not only for our industry and his company, but also for the success of others. He personally devotes his time and resources to championing a healthy and secure future for all Americans. This steadfast commitment makes him a perfect choice for the 2016 Chief Roughneck Award." [more]

  • 19
    August

    Muddling the tax reform debate

    David Williams

    Last week, Presidential candidates Hillary Clinton and Donald Trump both traveled to Michigan within days of each other to give major economic policy speeches. With the economy continuing to falter — recent Commerce Department numbers show a paltry 1.2 percent growth the last quarter — Americans were eager to hear the candidates’ proposals on how to get the nation back on the right economic path.

    Discussion of economic policy inevitably involves a discussion on addressing tax policy and implementing tax reform. It’s also inevitable that tax reform discussion leads us to a persistent myth which continues to rear its ugly head despite evidence to the contrary — that America’s oil and natural gas companies receive subsidies from the government.

    Three long-standing tax deductions are typically targeted for elimination — percentage depletion, intangible drilling costs, and the domestic manufacturing deduction (also known as Section 199). All are critical as they enable energy companies to explore, develop and invest.

    Removing important tax deductions would ultimately result in not only the loss of jobs and contributions to the U.S Gross Domestic Product, but investments the industry makes that have taken our nation from an era of energy scarcity to one of energy abundance. [more]

  • 04
    August

    Oklahoma AG joins other states in suit against EPA on methane emissions

    Paul Monies

    The Oklahoman

    Oklahoma has joined a dozen other states in a lawsuit challenging federal regulations for methane emissions from new equipment at oil and natural gas sites.

    Attorney General Scott Pruitt joined the effort Tuesday led by West Virginia Attorney General Patrick Morrisey. The rules are part of the Obama administration’s goal to cut methane emissions from the oil and gas industry more than 40 percent from 2012 levels by 2025.

    The deadline to file challenges to the rule was Tuesday. In separate filings, Texas and North Dakota challenged the regulations last week. Several industry groups, including the Oklahoma Independent Petroleum Association and the Domestic Energy Producers Alliance, joined together in their own lawsuit against the regulations. [more]


  • 13
    July

    Cramer Amendment passes, removes FWS authority over non-federal O&G rights

    Congressman Kevin Cramer

    An amendment introduced by Congressman Kevin Cramer prohibiting implementation of a U.S. Fish and Wildlife Service (USFWS) regulation passed the House of Representatives on a voice vote around midnight.

    In February 2014,  USFWS issued an advance notice of proposed rulemaking for the “management of Non-Federal Oil and Gas Rights” rule, posted it Dec. 11, 2015, and closed comments Feb. 9 of this year, for the first time empowering itself with the authority to permit oil and gas development on federal refuges without federal ownership of the underlying mineral interests.  USFWS, in part, cited the need to update existing rules to best protect society from the potential impacts of oil and gas development on wildlife refuges.
     

    The Cramer Amendment ensures no funds are provided to finalize or implement the proposed rule.  Cramer took his amendment to the floor of the House late last night during debate of the Department of Interior, Environment and Related Appropriations Act of 2017.

    “Not only do state regulators have the authority and expertise to regulate non-federal minerals, they have the most obvious incentive to do it well. After all, they live where the minerals are being produced,” said Cramer, “The USFWS does not have the personnel or expertise to regulate oil and gas operations and its concerns are already being addressed by the appropriate regulatory bodies."

    The final vote on the entire Interior, Environment and Related Agencies Appropriations Act is expected by the end of the week.

  • 25
    December

    US oil struts its market quality by trading for premium after ban repeal

    Adam Wilmoth

    Two days after President Obama last week signed the bill that repealed the country's four-decade ban on oil exports, US oil traded for more than the international standard for the first time since 2010.

    Oklahoma oilman Harold Hamm and others who have lobbied for the change say the price reversal is a sign the world sees domestic light, low-sulfur oil as superior to international oil, much of which is denser and higher in sulfur.

    “WTI is trading better than Brent, reflecting the willingness of the world market to pay for the exceptional quality of US light sweet crude,” said Hamm, chairman of the Domestic Energy Producers Alliance (DEPA). [more]