Texas voters reelect conservative Craddick to lead oil regulator
Christi Craddick reelected to lead Texas oil regulator for another six years
Texas oil production has ballooned since the start of Craddick's tenure in 2012
Pressure mounts on the Railroad Commission to handle orphan wells issue
By Georgina McCartney
HOUSTON, Nov 6 (Reuters) -Texas on Tuesday reelected conservative incumbent Christi Craddick as chairman of the state's oil regulator, marking her third term in the position and a win for the industry that has seen production surge during her tenure.
Texas, home to the Permian Basin, is the largest oil producer in the United States, pumping some 5.8 million barrels per day (bpd), according to the latest government figures. The Texas Railroad Commission (RRC), which Craddick will chair for another six years, regulates the industry, overseeing everything from well permitting to pipeline safety.
Craddick, a Republican, defeated Democrat Katherine Culbert, Green Party member Eddie Espinoza, Libertarian Hawk Dunlap and Independent Richard McKibbin.
Craddick first took office in 2012, around the beginning of the U.S. shale revolution, which propelled the country to become the world's top oil producer.
Since then, Texas oil production has ballooned from an average 1.98 million bpd to hitting a record at 5.8 million bpd in August this year, according to the Energy Information Administration.
In her third term, Craddick will face mounting pressure from landowners, environmentalists and other industry groups on the issue of orphan wells, which have been drilled and abandoned by operators.
There were 8,376 orphan wells as of Oct. 31 across Texas, according to the RRC, though the actual number could be far higher.
"I would like the Commission to streamline orphan well plugging and abandonment, and adoption processes," said Reed Goodman, independent operator and owner of JayBird Resources, which has operations adjacent to the Eagle Ford shale play in South Texas.
The Railroad Commission has also come under fire recently after so-called zombie wells caused a series of well blowouts. Zombie wells are abandoned production sites that spring back to life and pollute the surrounding air, soil and groundwater.
Environmental groups also want RRC put a stop to routine flaring at oil wells, increase permitting fees to force oil companies to pay for the cleanup of orphan wells instead of the taxpayer, and to stop the storage of oil in areas that could contaminate groundwater.
Texas oil production hits record highs in 2024 https://reut.rs/4feJPcG
Reporting by Georgina McCartney in Houston; Editing by Liz Hampton and Matthew Lewis
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
