2017 State of the Industry - Gifford Briggs
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LOGA Vice President Gifford Briggs presentation to the 2017 LOGA State of the Industry series (January 2017 - March 2017)
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2017 State of the Industry - Gifford Briggs
- 1. State of the Industry 2017
- 2. Victim of our own Success Future is Cloudy A New Hope
- 3. “To understand where you are going where you have been you must know”
- 4. Victim of our own Success
- 5. US Shale Oil Rockets 5000 6000 7000 8000 9000 10000 2009 2010 2011 2012 2013 2014 2015 5 6 7 8 9 10
- 6. Abundant Supply Drives U.S. Producers out of Market 25 42 59 76 93 110 Jun-2014 Jan-2015 Aug-2015 Mar-2016 620 940 1360 1680 2000 Price of Oil US Rig Count 300
- 7. U.S. Oil and Gas Industry in Biggest Recession Since 1980’s
- 8. Wheres this headed and what does it mean for us? "Difficult to see. Always in motion is the future."
- 12. South Louisiana Off Limits SLFPA-E Jefferson Parish Plaquemines Parish Cameron Parish St. Bernard Parish Vermillion D.A.
- 13. “…we encourage you to consult with your private counsel, and file such a suit, in which Secretary Harris will then intervene. Should you not do so in 30 days of the date of this letter, Secretary Harris will do so.” Governor Edwards letter to 15 coastal parishes September 21, 2016
- 14. “1987 worst recession ever” 2013 Sept 2016 2017 South Louisiana Land 36 15 30 (2003) 5 4 Inland Waters 23 20 5 2 North La Land 12 23 16 27 Lawsuits Driving Away Investment US Rig Count up 50%
- 15. “We have hope. Rebellions are built on Hope”
- 16. OPEC Agrees to Cuts US Production up by 500,000 bbl/day
- 17. 400 475 550 625 700 Market Improving $37.55 $51.97 Price of Oil US Rig Count
- 18. Haynesville Shale Activity Rebounding 9 Rigs in September 23 Rigs in February
- 19. Trump
- 20. Trump Energy Dream Team Rick Perry Rex Tillerson Scott Pruitt Ryan Zinke
- 21. Carol Browner Energy Czar “Government” Ken Salazar Sec. of Interior Steven Chu Sec. of Energy “Scientist” “Drilling is not a road that will work” Lisa P. Jackson EPA Administrator
- 23. The Future is Volatility
- 24. Victim of our own Success Future is Cloudy A New Hope
- 25. www.loga.la facebook.com/LouisianaOilGasAssoc @LaOilGasAssoc Oil & Gas News and Events on your iOS device videos.loga.la Text questions to (337) 278-6240
Editor's Notes
- The Dream Team Secretary of State Appointment: Rex Tillerson Chairman CEO of ExxonMobil 42 years in the Oil and Gas Industry Environmental Protection Agency Appointment: Scott Pruitt Oklahoma’s Attorney General Established a “Federalism Unit” to fight the Obama Administration regulatory agenda Has sued the EPA to block the Clean Power Plan (CPP), the Waters of the U.S., and other burdensome regulations to Oklahoma’s coal-fired plants Department of Energy Appointment: Rick Perry 47th Governor of Texas What better way to stop the burdensome federal regulations than to have a Secretary who wants to abolish the department? During his tenure as Governor, Texas’ oil and natural gas production surged by roughly 260% and 50%. Link to story Department of Interior Appointment: Ryan Zinke Navy Vet Montana Congressman Supports increasing coal and oil extraction on federal lands The Bureau of Land Management has only seen a 73 cent return on every dollar, while states have received almost $15 return. The federal government is wasting and mismanaging resources that could mean jobs and dollars for our industry.