Chairman David Porter Addresses Permian Basin Petroleum Association

Applauds Permian Basin Oil & Gas Industry for Maintaining Strong Production Levels

MIDLAND –Railroad Commission Chairman David Porter today praised Permian Basin producers for maintaining strong production levels even as oil and gas activity slows nationwide. Porter made his comments at the Permian Basin Petroleum Association’s (PBPA) 53^rd Annual Meeting.

“About 43 percent of the nation’s remaining rigs are in Texas; and about half of them are in the Texas Permian Basin. That’s about a quarter of the rigs in America,” Porter said. “Being from Midland, I am proud of West Texas. I am confident that if anyone can help the U.S. navigate this downturn in energy prices, it’s our Texas producers – especially those in the Permian.”

Porter – who leads the state’s energy regulatory agency – attributes much of Texas’ success to its world-renowned regulatory environment, and he emphasized the negative impact of federal overreach.

“Unfortunately, our regulatory framework is continuously threatened by lawmakers and bureaucrats in D.C.,” Porter said. “Texas is stronger today because of our revolutionary oil and gas shale development, and this strength could extend to other states if the federal government relied on stable, free-market policies, and stopped intervening in industry business practices.”

Texas Railroad Commission Chairman David Porter was elected statewide by the people of Texas to serve as a member of the Commission in November 2010. A Certified Public Accountant and successful small business owner, Chairman Porter has worked with oil and gas producers for nearly three decades providing strategic financial advice and tax counsel. He is the senior member of the Commission with a proven record of principle-driven, free market conservative leadership.