By Jack MoneyBusiness writer jmoney@oklahoman.comOklahoma’s Corporation Commission approved a long-running limit on natural gas production rates from prolific wells on Tuesday, the same as they have every year for decades. But this time, that limit only will stand for six months, as producers are asking for additional consideration on what is allowed, given that excess gas production continues to drive its price into the cellar. The Petroleum Alliance of Oklahoma and Continental Resources in particular are asking for that additional consideration. The alliance sent elected commissioners a letter reminding them of the agency’s responsibility to “conserve natural resources” while promoting continued economic development. “The Oklahoma Corporation Commission has the responsibility to weigh the economic benefits of the state producing its resources during a challenging pricing environment for the upstream oil and gas industry,” alliance Chairman David Le Norman said in the letter. “Complexity is added when considering the potential loss of market share for Oklahoma production, coupled with the prospect of less capital being deployed to develop Oklahoma’s resources.Read more on NewsOK.com

 

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