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Watching Government: A stripper well owner speaks up

03/09/2009
The US oil and gas industry found plenty to dislike when President Barack Obama’s administration announced its proposed federal budget. But it’s possible that the subset that would be hurt quickest and hardest is its marginal, or “stripper,” oil producers.Their 420,000 low-volume wells each produce fewer than 15 b/d. Yet collectively stripper well producers represent 20%, or 1.2 million boe/d, of total US production, roughly equal to daily US energy imports from Saudi Arabia, according to the National Stripper Well Association.“Without revision, these provisions would result in well abandonment and reduced oil and natural gas production, serving only to furth...
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