American Oil and Gas Reporter - February 2015 - 111

ConventionSection: Pennsylvania Independent Oil & Gas Association
decision, supports more-not less-leasing
of state lands to generate funds to balance
the budget rather than taxing the production of primarily privately owned
natural gas resources," Moody adds.
"According to DCNR, fewer than 1,500
of the nearly 700,000 acres of leased
state lands have been converted by this
development, which has yielded nearly
$700 million to the state since 2008.
This court decision also gives the new
governor the opportunity to show that
he really does mean what he says: that
he supports safe and responsible oil and
natural gas development and wants to
work with us to provide a better Pennsylvania."
Industry Reactions
The public's view of oil and gas operations varies across the commonwealth,
D'Amico says, and in some circles the
industry continues to fight a general impression that operators spend their time
rolling in large piles of dollars when they
are not busy creating all sorts of environmental problems.

"Neither of those statements is true,"
he responds. "I think Pennsylvanians generally support the oil and gas industry's
presence here by a fairly substantial
amount. They agree it is best to get energy
from the United States instead of overseas."
While the governor and legislators
prepare their tax plans, a number of companies operating in Pennsylvania already
say they are reducing their drilling budgets,
D'Amico reports, with at least one company selling its commonwealth acreage
rather than continuing operations. He
adds that he expects more companies to
announce withdrawal plans in the near
future.
"The state has two choices: It could
cut the cost of government, which I never
see politicians doing, or-a particularly
unpalatable choice-raise personal income
taxes. I cannot imagine the state wants to
do that, even though the November election
is behind us," D'Amico says.
Slagel points out rigs operating in
Pennsylvania are mobile, and their owners
will move them to where they can earn

the best return. Under current economic
conditions, that might be Ohio, West Virginia or Texas, he says.
"From a natural gas development
standpoint, Pennsylvania has been and
will continue to be a very expensive place
to do business," Slagel details. "Those
costs include permitting expenses, existing
taxes, and possible future taxes. That
puts many companies on edge under the
current pricing situation, unless we see a
dramatic improvement in those expenses,
which we do not expect under the new
administration."
On top of his severance tax proposals,
Slagel warns, Governor Wolf also has
made a range of promises to the environmental community regarding even stricter
standards for the oil and gas industry.
"Those of us who work in the industry
look at that possibility and we can imagine
a point at which requirements cannot be
any stricter without basically shutting
down the industry," Slagel says. "The
environmental community says it does
not want to do that, but there are a lot of
operators now teetering on the brink."

FEBRUARY 2015 111



American Oil and Gas Reporter - February 2015

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

Contents
American Oil and Gas Reporter - February 2015 - Cover1
American Oil and Gas Reporter - February 2015 - Cover2
American Oil and Gas Reporter - February 2015 - Contents
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American Oil and Gas Reporter - February 2015 - Cover3
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