Federal measures exempting oil and natural gas producers active in the prodigious Gulf of Mexico from royalties could deprive the U.S. Treasury of a minimum $20 billion in lost revenues over the next two decades or more, according to information contained in a preliminary government report that was obtained by the New York Times.
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WIC Expansion Launches Big Powder River Play
Producers active in Wyoming’s Powder River Basin, which is fastbecoming the most prodigious play in the nation, breathed acollective sigh of relief last week when FERC gave WyomingInterstate Co. Inc. (WIC) the go-ahead to construct its MedicineBow connecting lateral that will enable it to tap into thebountiful coal-bed methane (CBM) reserves in the region. Withoutit, producers said they would be forced to shut in production ofCBM gas for the long term.
August 2, 1999
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