American Oil and Gas Reporter - February 2016 - 22

IndustryDigest
PBPA Gives Mewbourne
2015 Top Hand Award
MIDLAND-The Permian Basin
Petroleum Association will honor Curtis
W. Mewbourne with its 2015 Top Hand
Award. The association held its award
banquet on Jan. 28 at the Petroleum
Club of Midland.
Mewbourne, born in Shreveport, La.,
in November 1935, received a
bachelor's in petroleum engineering
from the University of Oklahoma in
1958. After working for several oil and
gas companies, he founded Mewbourne
Oil Co. in 1965. He continues to operate
the company privately for the benefit of
his employees and family, PBPA says.
His support for OU-including its
College of Earth & Energy, and School
of Petroleum and Geological
Engineering is long standing, the
association says. Mewbourne began in
1982 by endowing the Mewbourne
professorship in petroleum
engineering, the first such endowed
position at OU in engineering.
Mewbourne Oil Co. has been the
largest supporter of student
scholarships and internships at the
university over the past 25 years.
Over the years, Mewbourne has
endowed six additional chairs in
petroleum engineering, and also
endowed the Mewbourne Leadership
Scholars program, which provides
annual scholarships.
OU recognized his long-time support
by naming the Mewbourne School of
Petroleum and Geological Engineering
in his honor in 2000, and granting him
an honorary doctorate in 2002. On Nov.
2, 2007, the Mewbourne College of
Earth & Energy was named in his
honor, and he was given the Trailblazer
Award for his professional
achievements and lifetime commitment
to the energy industry. ❒

Oil & Gas Add $32 Billion
To Colorado's Economy
DENVER-The oil and gas industry
pumped $31.7 billion into Colorado's
economy in 2014, according to a study
released by the Colorado Oil & Gas
Association.
Oil and Gas Industry Economic and
Fiscal Contributions in Colorado by
County, 2014, which COGA says was
22 THE AMERICAN OIL & GAS REPORTER

conducted by the Leeds School of
Business at the University of Colorado
at Boulder, found the industry recorded
$15.8 billion in production value,
accounting for 38,650 direct jobs with
average annual wages in excess of
$105,000-twice the average for all
industries in Colorado. The total
economic impact of the industry in 2014
was $31.7 billion, supporting 102,700
jobs and $7.6 billion in compensation.
Further, comments COGA President
and Chief Executive Officer Dan Haley,
"The industry's overall tax bill represents
approximately $600 per household in the
state, and this does not include the
industry's corporate tax bill. Every
Coloradan is positively impacted by this
industry, no matter where he lives."
Haley says the report also details the
significant amount of tax revenue oil
and gas generate for school districts, as
well as state and local governments,
which is well "beyond what other
industries contribute. Ad valorem taxes,
for instance, are three times higher for
oil and gas production than for
commercial property and 11 times
higher than residential property."
The study also finds:
* The oil and gas industry paid more
than $434.7 million in property taxes in
2014 and accounted for $156 million-or
88 percent-of the Colorado State Land
Board School Trust distribution.
* Severance tax revenue generated
$171 million in 2013 and $330 million
in 2014.
* The oil and gas industry contributed more than $1.1 billion in revenues to state and local governments,
school districts and special districts.
* Thirty-four counties had oil production and 38 produced natural gas; 37
of Colorado's 64 counties recorded taxable oil and gas property, led by Weld,
Garfield, La Plata, Rio Blanco and
Montezuma counties.
While Weld and Garfield counties lead
the state in production, Haley notes that
Denver, Weld, Mesa, Garfield and Adams
counties are the "center of employment
for the industry," accounting for 79
percent of the total direct jobs.
"This study clearly shows that cities
and counties that either don't have or
have limited production (nevertheless)
rely on our positive contributions to their
communities," Haley comments. "When
new rules or regulations are being
considered that impact oil and gas

production, Weld and Garfield counties'
voices must be heard. We must avoid the
domino effect of production in these two
counties being negatively impacted and
then the rest of the state's employment
and revenue declining as well."
The full report is available on
COGA's website at www.coga.org. ❒

CLNG Names Director
After Merger With NGSA
WASHINGTON-Charlie Riedl has
been named the executive director of
the Center for LNG, a trade association
representing liquefied natural gas
producers, shippers, terminal operators
and developers. The hiring comes after
CLNG's Board of Directors approved
the group's merger with the Natural Gas
Supply Association.
In addition to leading CLNG, Riedel
will serve as a senior vice president of
NGSA, as part of the merger agreement.
Riedl will lead CLNG's advocacy and
public education initiatives that enhance
greater understanding of LNG and at the
same time encourage public policies that
recognize and support LNG's
contribution toward economic growth in
the United States, the association says.
Before joining CLNG, Riedle was
director of market development for
America's Natural Gas Alliance, where
he helped develop and manage outreach
to encourage transportation sectors to
increase their use of natural gas. ❒

Gas Storage Levels
Decrease By 670 Bcf
WASHINGTON-Underground
natural gas storage in the United States
stood at 3.086 trillion cubic feet on Jan.
22, 16.3 percent above the five year
average, according to the U.S. Energy
Information Administration. That was
down 670 billion cubic feet from the
3.756 Tcf in storage on Dec. 25, which
was 13.5 percent above the five-year
average. The Jan. 22 storage number
was 530 Bcf more than a year ago when
gas storage stood at 2.556 Tcf.
EIA unveiled new classifications for
natural gas storage on Dec. 25 (AOGR,
December 2015, pg. 16). The agency
says changes in regional trends in
natural gas consumption, production
and storage led it to recategorize its
storage regions. In large part, EIA says,

American Oil and Gas Reporter - February 2016

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