Johnnie Burton
Johnnie Burton
bit gone happily region shown surprised
I am very happily surprised. Considering what this region has gone through, I would have not been surprised if they had shown a bit of timidity.
coast delegation discussion energy federal lift occur offshore potential response unless virginia waters works
The idea of leasing federal waters off the coast of Virginia comes in response to discussion in the state's legislature about the potential of energy development off its coast. However, no offshore development will occur off Virginia unless the state's congressional delegation works to lift the moratorium.
energy interested involved lands produce public
I am particularly interested where public lands are involved and where public lands may be able to produce more energy for the nation.
couple expect experience four occur production sale tells three within
Our experience tells us we could expect wells to be drilled within a couple of years after the lease sale occurs. Production is something else. Production could occur within three to four years.
energy industry offshore record resources risk safety
The offshore energy industry has compiled an outstanding safety record that allows development of these resources without significant risk to the environment.
cannot days levels mean might oil percent platforms ready storm within
The oil from the platforms might be at 95 percent of pre- storm levels within 30 days or so. That doesn't mean it's going to go anywhere. There are terminals they cannot get to. There are refineries that are not ready to take the product.
bids companies gas number record represents sale terms total volume
This sale represents a record in terms of the total volume of RIK gas sold, the number of bids received, and the total number of companies that made offers.
economy essential fuel incentives nation primary production reason remember
We need to remember the primary reason that incentives are given. It's not to make more money, necessarily. It's to make more oil, more gas, because production of fuel for our nation is essential to our economy and essential to our people.
efficient fact fewer increases internal management strategy
We implemented a new management strategy that increases efficient use of our internal resources, and in fact allows us to do as many or more audits with fewer auditors.
gas natural price
The price of natural gas is through the roof.
hitting market maybe months percent production three
We won't see 90 percent of production hitting market for another three months or maybe year's end.
exciting taking
There are some very exciting developments taking place here.
percent production property public value
We have audited 71 percent of the property on public lands. We look at the value of that production at the lease.