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Private Equity Fund Of Funds Oil and gas companies eager to drill in the Rocky Mountain West appear to have an ally in the Bush administration, which is approving wells at a pace well ahead of the Clinton administration and looking to get even faster.

Granby, the oil and gas exploration and production company, has announced a new drilling operation at the Watling gas prospect.

Curve Equity Exposed Fund An Associated Press review of thousands of applications to drill on Bureau of Land Management land since 1998 shows a 34 percent increase in the number of wells approved under Bush when compared with the last three years of the Clinton administration.

Eagle Exploration Company is primarily engaged in the purchase and development of residential and commercial real estate. In 1992, the Company changed its business focus from oil and gas exploration to real estate development, and in connection with this change, subsequently sold most of its oil and gas interest and investments. However, the Company continues to hold minor interests in oil and gas properties and indirect interests by acquiring equity in other oil and gas companies. The Company is also investigating various potential acquisitions and other business opportunities.

Equity Income Funds The vast majority of the permits, 94 percent since 2001, are clustered in five states: Colorado, Montana, New Mexico, Utah and Wyoming a key region in the administrations push to open more public land for energy development.

Since it is unlikely that congressional approval for drilling in the Arctic National Wildlife Refuge (ANWR) will be forthcoming, and Alaska's Prudhoe Bay pipeline infrastructure is crumbling and causing oil spills, it is up to oil producers in the lower 48 to keep the oil pumping. based Sunray Oil Company, as an independent oil and gas company with over 50 years of experience in acquiring, drilling, completing, and reworking oil and gas leases, is doing just that.

Capital Casebook Equity The BLM has received nearly 26,000 applications to drill wells and approved nearly 19,000 since 1998 nearly three of every four. BLM land and other federal land managed by the Interior Department contain an estimated 68 percent of nations gas reserves and 74 percent of oil resources. The AP review covered detailed BLM records over the last three years and summary information dating to 1998.

Oil and gas producers are also weary of the price volatility that in the past caused them to scramble to find drilling rigs when prices were high and idle them when prices fell. "People drill based on the outlook for prices, " said Britt Dearman, a special projects executive at the Apache Corporation, an oil and gas company based in Houston. "Prices have been so volatile that companies are not comfortable" with drilling, he said.

Private Investment In Public A flood of permits has strained the BLMs meager resources, creating a backlog of applications industry officials say is leading to shortages and higher gas prices.

"The way the law is currently structured in British Columbia sour gas wells can be drilled within 100 meters of private homes, " says Karen Campbell, staff lawyer for West Coast Environmental Law. "This is a real concern for residents, who have very little opportunity to participate in decisions about drilling on or next to their homes. Even the Oil and Gas Commission's own Advisory Committee has expressed concern about the lack of legal requirements with respect to the placement of sour gas wells, " she noted.

Equity Mutual Funds To answer the critics, the Interior Department is seeking to speed up the process.

Birmingham Contact Equity We are blessed with vast resources. We have a stewardship responsibility to produce it and I think the American public expects us to produce it, said Patricia Morrison, the agencys principal deputy assistant secretary for land and minerals.

Private Equity Investment Firm The BLM controls 262 million acres of land and 700 million acres of subsurface rights, with an annual budget of about $2 billion and 10,000 employees but it isnt enough these days.

Complying Deal Equity Funds The BLM field office in Buffalo, Wyo., has been swamped by the oil and gas stampede. It handles permits for the frenzied coal-bed methane development of the Powder River Basin, where the agency expects to issue 3,000 permits in the coming year and methane is so shallow wells can be punched with rigs used to drill for water.

Equity Msn Private Wyoming Four years ago, 23 people worked at the Buffalo office. The number has more than tripled to 76 to handle the demand, more than 4,000 permit applications in the last three years.

American Equity Investment Dennis Stenger, field manager of the office, said his staff has been aggressive in trying to get faster, issuing permits to clusters of wells to avoid redundant environmental and cultural studies. That practice and others were adopted BLM-wide in a series of directives issued in April aimed at improving the permit process.

Equity Index Funds Without unforeseen delays, the office can generally get permits processed in 46 days, Stenger said. You cant streamline much more without changing the environmental laws, he said.

Equity Private Team Wyoming Federal regulations, however, say the BLM is supposed to process permits in 30 days or less. The industry notes that a state like Colorado can often process permits to drill on state lands in as little as 10 days.

Equity Group Investment The AP review found it takes the BLM much longer an average of 89 days over the last three years, excepting applications still pending at the end of the 2003 budget year.

Capital Development Equity Morrison said the numbers dont reflect delays caused by companies amending or withdrawing an application. But she conceded that permits are taking too long to handle for the liking of industry and government.

Article Between Difference Thats exactly what were trying to address, Morrison said.

Contact Equity Private Wyoming The AP review found that, during the first 33 months of the Bush administration, the BLM approved 9,876 wells, or about 299 per month. In the final 40 months of the Clinton presidency, 8,934 wells were approved, or 223 per month.

Agreement Equity Investment The volume of permit applications has also grown fairly steadily, from 3,790 in 1998 to 4,715 in 2003. The number approved has fluctuated some, but has generally increased as well.

Business Equity Funds Oil and gas companies contributed nearly $2 million to Bushs 2000 campaign and have already given nearly $1 million to his re-election bid, according to campaign finance records compiled by the Center for Responsive Politics. The industry has contributed $29 million to political campaigns since 1999, with roughly 80 percent going to Republicans.

Private Equity Fund Billions of dollars are at stake: A recent industry study by IHS Energy estimated an additional 264 million cubic feet of natural gas per day could be in production by August 2004 if the BLM were able to wipe out its backlog in six months and begin consistently processing permits in 45 days. The Energy Department has estimated that, over the next two decades, gas consumption will grow by more than 50 percent, while production would grow by just 14 percent if it continues at its current rate.

Investment Property Home Dave Alberswerth, a public lands expert with The Wilderness Society, said the BLM simply doesnt have the funding and personnel to handle the increase in permit applications. He also said drilling in the West remains steady, despite the industrys grievances.

Managed Equity Funds Their theory seems to be that the obstructions and impediments are the environmental safeguards, he said. From our perspective thats the wrong way to go. They should not be cutting corners on environmental protections to issue oil and gas drilling permits faster.

Capital Entrepreneurial Equity Krista Mutch, director of government affairs for the Denver-based Western Gas Resources company, said the industry has no plans to eliminate environmental safeguards.

Private Equity Hedge Funds What we are suggesting is we all are seeking to increase the efficiency in the way we do our work, Mutch said. The BLM is frankly not in the 21st century from a technological perspective.

Email Equity Private Wyoming Congress has heard the industry complaints.

Equity Loan On Investment In the energy bill Republicans expect to revive next year, the BLM would receive an additional $1.5 million to reduce the permit backlog in Colorado, Montana, New Mexico and Utah during the coming year. There are other provisions intended to speed things up, including the creation of a White House task force to coordinate energy projects, initiatives targeting the most crowded offices and tighter deadlines.

Equity Income Mutual Funds By Robert Gehrke
Associated Press - 12/23/2003

Topic: Petroleum Industry

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