PIOGA comments on newly signed law.

Governor Corbett signed House Bill 1950 on February 14, estabslishing an impact fee on unconventional gas wells, addressing municipal regulation of oil and gas activities, and making changes to the oil and gas regulatory program. In response, PIOGA issued the statement below.

WEXFORD, Pa (Feb. 14, 2012 )  Pennsylvania Independent Oil & Gas Association President and Executive Director Louis D. D’Amico today issued the following statement regarding the enactment of H.B. 1950:

 PIOGA and its members have been actively engaged with legislators and policy makers in the development of this new law for the past two years, working to create a vehicle to address county and local governments for uncompensated impacts and provide more predictable and consistent regulations for future natural gas drilling and operations.  We recognize this has been a challenging process for Pennsylvania’s government officials at all levels, and appreciate their efforts to develop a compromise that is reflected in this new law.

“In the face of low natural gas commodity prices, PIOGA member companies will evaluate the economic ramifications of the legislation as another component of their long-term investment strategies. Obviously, as in all competitive situations, exploration and production investments will be made in areas offering the greatest return.

“While this and other details contained in the law give our organization a level of concern, the need to resolve broader issues associated with increased drilling is equally important to the long-term potential  growth of this industry, the economic boost it will provide across the state in the future and the energy security it will provide to our nation.

 “PIOGA looks forward to continuing its efforts to truly make Pennsylvania the Keystone to America’s energy future.”



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