Oil and Gas Companies Concerned Over Looming Regulations
Williams has been in business for a century. The natural gas drilling and transportation company says their main focus is the Western Slope, but next year they plan on cutting some rigs loose. Susan Alvillar, a company spokesperson says one reason for that is that rigs are becoming more efficient but a bigger reason is a slowing economy and as of yet unfinished rules and regulations for oil and gas.
Williams plans on making very deliberate choices in the future starting with cutting their 26 rigs in use down to 20. Alvillar says ambiguous rules and regulations that could be imposed on oil and gas companies in Colorado is a great concern for the company.
Chevron also said in a press release that they plan on continuing their operations with two rigs instead of using its earlier announced six rig strategy.
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