Chairman David Porter Addresses Permian Basin Petroleum Association
Applauds Permian Basin Oil & Gas Industry for Maintaining Strong Production LevelsOctober 15, 2015
MIDLAND –Railroad Commission Chairman David Porter today praised Permian Basin producers for maintaining strong production levels even as oil and gas activity slows nationwide. Porter made his comments at the Permian Basin Petroleum Association’s (PBPA) 53rd Annual Meeting.
“About 43 percent of the nation’s remaining rigs are in Texas; and about half of them are in the Texas Permian Basin. That’s about a quarter of the rigs in America,” Porter said. “Being from Midland, I am proud of West Texas. I am confident that if anyone can help the U.S. navigate this downturn in energy prices, it’s our Texas producers – especially those in the Permian.”
Porter – who leads the state’s energy regulatory agency – attributes much of Texas’ success to its world-renowned regulatory environment, and he emphasized the negative impact of federal overreach.
“Unfortunately, our regulatory framework is continuously threatened by lawmakers and bureaucrats in D.C.,” Porter said. “Texas is stronger today because of our revolutionary oil and gas shale development, and this strength could extend to other states if the federal government relied on stable, free-market policies, and stopped intervening in industry business practices.”
Texas Railroad Commission Chairman David Porter was elected statewide by the people of Texas to serve as a member of the Commission in November 2010. A Certified Public Accountant and successful small business owner, Chairman Porter has worked with oil and gas producers for nearly three decades providing strategic financial advice and tax counsel. He is the senior member of the Commission with a proven record of principle-driven, free market conservative leadership.
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit http://www.rrc.texas.gov/about-us/.