American Oil and Gas Reporter - January 2015 - 202

The Presidential Papers
Oklahoma Independent
Petroleum Association
RONNIE IRANI
President and Chief Executive
Officer
RKI Exploration & Production
Oklahoma City

FROM THE CHAIRMAN
2014 was a banner year for OIPA.
First on the list of accomplishments
is our success protecting and enhancing
the state's tax provisions for independent
producers. We now have a permanent tax
structure that will benefit producers large
and small, present and future.
The governor signed HB 2562 after a
61-34 vote in the House of Representatives
and a 30-14 vote in the Senate. It sets the
initial gross production tax rate at 2
percent for 36 months for all new wells.
The new provision eliminates the threeyear sunset on the previous tax provision
for horizontal wells, and also applies to
both horizontal and vertical wells. Making
the rate permanent will help encourage
the development of Oklahoma's oil and
natural gas reserves for decades to come.
We also hosted our first Rally for the
Rigs, which gave OIPA members the opportunity to gather at the state Capitol
and showed our lawmakers the people
affected by legislation that impacts the
oil and natural gas industry.
Our oil field services fundraising auction set a record, bringing in $800,000

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DRILLING & COMPLETION SUPERVISION
OIL AND GAS PROPERTY MANAGEMENT

Robert L. Waller * Stephen E. Nichols
2932 N.W. 122nd Street, Suite 4
Oklahoma City, Oklahoma 73120
Phone 405-302-6200
Fax 405-302-6240
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and surpassing the previous record by
$300,000. Our Wildcatter Wednesday
luncheons continue to draw record crowds.
Our annual meeting set an attendance
record and our fall conference did the
same. Our Future Leaders program, designed to recruit and encourage oil and
gas professionals aged 35 and younger,
continues to add new members.
Plenty Of Challenges
All these accomplishments are proof
of what our association can accomplish
when we come together as one voice. As
a chorus that is now 2,800 people strong,
OIPA's united front is a powerful force
for this industry.
While we celebrate our success, let us
not forget that the fight rages on. Each
and every day our industry is at risk. The
threats to our businesses continue. We
will overcome these obstacles the same
way we found victory on this year's gross
production tax legislation: through hard
work and cooperation.
As we move into 2015, many questions
surround our industry and its immediate
future.
Falling commodity prices threaten the
continued growth of oil and natural gas
production in Oklahoma and across the
nation. Across the U.S. oil industry, many
producers have taken a collective pause
while they determine the price decline's
duration.
On the political front, a Republican
majority in the U.S. Senate puts energyfriendly elected officials in key committee
roles. That includes Oklahoma's own Jim
Inhofe, who is expected to chair the powerful Committee on Environment and
Public Works.
The GOP has, historically, been more
appreciative and understanding of our
industry and understands the positive im-

202 THE AMERICAN OIL & GAS REPORTER

pact it has on the country's financial
well-being. That will not change, but we
must continue our efforts to educate officeholders and the public about how
America benefits from a vibrant and
growing oil and gas industry.
The same is true in Oklahoma, where
lawmakers face increased pressure regarding seismic activity, and financial
shortfalls have opened the door for legislators to debate the merits of all tax incentives, putting at risk the provisions
that are designed to encourage developing
Oklahoma's oil and gas fields and ensuring
the state's marginal wells continue operating.
In Oklahoma, however, lawmakers
and citizens understand the importance
of our industry. Those of us who live
close to the wellhead understand the
impact this industry has on jobs and the
overall economy, both locally and nationally. As oil and natural gas production
moves into states that traditionally have
seen little or no energy exploration, a
lack of understanding about the drilling
process and the industry as a whole leads
to confusion and, in many cases, fear.
In 1994, this state created the Oklahoma
Energy Resources Board, a program
launched by OIPA and voluntarily funded
by oil and gas producers and royalty
owners to restore abandoned well sites
and educate the public about the energy
industry. The year the program was
launched- and despite the state's status
as one of the country's historical leaders
in fossil fuel production-only 22 percent
of Oklahomans surveyed held a positive
view of the oil and gas industry. The
most recent survey, however, paints a
different picture. That survey shows 80
percent of Oklahomans hold a positive
view of our industry.
The success OERB has seen in impacting the public's opinion about our
industry is proof we must form a national
program or at least regional programs
designed to do the same. Oil and natural
gas producers have been under attack in
Washington and in the media by individuals who either do not understand or do
not want to understand our industry's
importance.
Oklahoma has been the undisputed
leader in energy education, and our industry must continue to educate all Americans about the importance of our drilling



American Oil and Gas Reporter - January 2015

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2015

Contents
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