Johnnie Burton
Johnnie Burton
efficient fact fewer increases internal management strategy
We implemented a new management strategy that increases efficient use of our internal resources, and in fact allows us to do as many or more audits with fewer auditors.
couple expect experience four occur production sale tells three within
Our experience tells us we could expect wells to be drilled within a couple of years after the lease sale occurs. Production is something else. Production could occur within three to four years.
best measure
Conservation is the best short-term measure we can take.
economy essential fuel incentives nation primary production reason remember
We need to remember the primary reason that incentives are given. It's not to make more money, necessarily. It's to make more oil, more gas, because production of fuel for our nation is essential to our economy and essential to our people.
bridge commercial energy gap gas natural oil order renewable
We need to find natural gas and oil in order to bridge the gap between now and the commercial development of renewable energy sources.
percent production property public value
We have audited 71 percent of the property on public lands. We look at the value of that production at the lease.
encourage gas offshore oil plan seeks virginia
MMS must have a leasing plan in place if Virginia seeks to end the moratorium and encourage offshore oil and gas development.
certain estimate gas lose maybe means oil percentage platforms
Of all the platforms that were destroyed, not all of them will be rebuilt, which means we will lose permanently a certain percentage ... we estimate maybe 4 or 5% ... of oil and gas that will not be produced.
both consider domestic energy families fully gas higher oil prices resources sensitive sure vast
With sharply higher energy prices buffeting both families and businesses, we want to be sure that we fully consider the environmentally sensitive development of the vast domestic oil and gas resources off our coasts.
bids companies gas number record represents sale terms total volume
This sale represents a record in terms of the total volume of RIK gas sold, the number of bids received, and the total number of companies that made offers.
pipes product ready
There are refineries that are not ready to take the product at the end of the pipe. So it's not just the pipes that's the problem, it's everything at the end of the pipe also.
gas natural price
The price of natural gas is through the roof.
needed obviously
We did not think we needed any more legislation, because we already have incentives, but we obviously did not prevail.
hitting market maybe months percent production three
We won't see 90 percent of production hitting market for another three months or maybe year's end.