Oklahoma regulators to consider reduced oil production request

Oklahoma Corporation Commissioners will meet Wednesday to possibly vote on a request for an emergency order sought by Tulsa oil company LPD Energy LLC to force a reduction in oil production in the state.

The request filed earlier in the month by LPD contends the sale of crude oil at current prices is a “waste” of the product.

The Commission will hold a regular virtual meeting at 9:30 a.m. with commissioners attending from remote Internet sites. The agenda included LPD’s request.

“Discussion of and possible vote(s) on a proposed order on LPD Energy Company LLC’s Application for Emergency Order filed April 10, 2020, in Cause No. CD 202000986, In the Matter of the of [sic] Application of LPD Energy Company LLC Seeking an Order of the Oklahoma Corporation Commission to Prevent Waste Under 52 O.S. §271 et seq.”

LPD’s request was made at the same time that one was filed by the Oklahoma Energy Producers Alliance which contends the commission has a legal duty and obligation to force companies to reduce their oil production.

Similar requests were made of regulators in Texas and North Dakota but neither state has acted.