Wednesday, April 1, 2009

Natural Gas CEO Wants Oklahoma Production Cut

Top energy CEO requests natural gas limits

Associated Press - March 31, 2009 10:45 AM ET

ENID, Okla. (AP) - The chairman of an Enid oil company wants state regulators to order operators of the state's largest natural gas wells to cut production.

Harold Hamm of Continental Resources says the economic recession has destroyed the demand for natural gas and limiting production would eliminate a market glut.

The Oklahoma Corporation Commission has set a May 5 hearing on the request.

It isn't clear whether other oil and gas companies will support or fight Hamm's request.

Representatives of Chesapeake Energy, Devon Energy and BP each told The Oklahoman they still are evaluating the proposal.

Information from: The Oklahoman,

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