December 2011

IPAA Announcement

December 19, 2011

TO: All Permian Basin IPAA Member Companies

On December 6, the Independent Petroleum Association of America (IPAA) emailed important information to all IPAA members concerning the new EPA reporting requirements for Greenhouse Gases, requiring action by virtually all oil and natural gas producers by January 3, 2012 in order to avoid more stringent reporting requirements in future years.

Last Friday, the Permian Basin Petroleum Association, as part of its strong working relationship with IPAA, sent IPAA’s information to all its members, conveying the same urgency.

There is a lot of useful information attached to IPAA’s Dec.6 email on this subject, which can also be accessed through the PBPA’s recent email. Registering with EPA’s e-GGRT site is relatively straightforward. To access some of the other links requires right-clicking on individual items, then clicking on “open hyperlink.”

IPAA also has a link on its web site to help producers navigate through the recent changes in reporting and compliance with SPCC plans which were finalized this year.

It is practical information like this, together with the intensive lobbying that IPAA does in Washington to minimize the extent and ultimate financial impact of these regulations, that makes your investment in IPAA absolutely invaluable. The same can be said of PBPA and its efforts in both Austin and, increasingly, in Washington.

I am frequently baffled when I visit with independent producers who say they don’t see the benefits of paying as little as $450 a year for IPAA membership. What is described above only scratches the surface of what IPAA and PBPA provide in the way of value to their members.

So, next time your IPAA and/or PBPA membership renewal comes due, smile when you write the check, realizing that this is the biggest bargain you will get this year. You might even consider moving your membership to a higher level to help fight these never-ending regulatory and tax issues.

After eight years as Regional Director for IPAA- Texas Permian, I am term limited and have handed the reins over to Jeff Sparks with Discovery Operating Company. Discovery and the Sparks family have a long association with IPAA, and you’ll be in good hands.

Merry Christmas!