Oklahoma regulators to reconsider gas production rate following storm

 

After taking emergency action last week to increase production at 100% on unallocated natural gas wells in Oklahoma, Corporation Commissioners will meet Thursday to reconsider the rate.

The emergency move was taken February 16 and the increased natural gas production helped supply gas to power plants in order to provide electricity during the rolling blackouts that hit the state during the historic winter storm. At the time, natural gas production in the state had plunged 2 billion cubic feet a day as a result of freezeoffs at some natural gas lines.

At the time, commissioners knew they would revisit the issue. They had approved a 50% rate last summer and were preparing to reconsider the set rate at a meeting in March.

Commissioners were urged by Brandy Wreath, director of the Commission’s Public Utilities Division to take the steps, calling the situation a life and death matter.

The vote was unanimous as commissioners Todd Hiett, Bob Anthony and Dana Murphy agreed it was time to produce as much natural gas was possible.

With warmer weather and no more rolling blackouts in the state, commissioners might consider returning to either the 50% rate or even a new rate.

The meeting starts at 9:30 a.m.

 

 

 

 

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