Posts under ‘oil rig news’

Colorado has had nine months now to live with new oil and natural gas drilling regulations that dramatically changed the permitting process for drillers, but they couldn’t have come at a worse time.

Alaska State Revenue Commissioner Pat Galvin wrote a letter today to legislators interested in lowering oil taxes, telling them oil industry jobs and investment in Alaska are up but drilling activity has been down.

Alaska Gov. Sean Parnell says he doesn’t support giving tax breaks to oil and gas companies without commitments that the companies will invest — and create oil field jobs — in the state.

In March of last year, The New York Times declared that “the great American drilling boom is over.”

The oil and gas industry isn’t big in Larimer County, but 2009 proved to be its third most active year here.

Herb Breymaier’s grandfather drilled a gas well on the family farm in northern Granville Township more than 100 years ago. The well furnished gas to him and Herb’s father until about 1940, when it began to dry up.

The Independent Oil & Gas Association of New York is voicing opposition to a proposal by the Paterson Administration to impose a “severance tax” on oil and natural gas production in New York State.

A leading congressional proponent of offshore drilling is expected to take part in the release next week of a new report promoting further oil and gas exploration in the Gulf of Mexico, including waters close to Florida.

A tax agreement that standardized the rules for oil drilling on an American Indian reservation in North Dakota has spurred more exploration and brought in more than $18 million in revenue, state and tribal officials say.

As New York wrestles with how to regulate natural gas drilling, state lawmakers from Central New York will soon have to decide an important question: Do they support high-volume hydraulic fracturing?