Houston (15 November 2017) – Today, the Senate Energy and Natural Resources Committee voted on legislation that would open parts of the Arctic National Wildlife Refuge (ANWR) to oil and gas development. It was approved with a vote of 13-10. In response, IADC President Jason McFarland issued the following statement:
“Opening a portion of ANWR to oil and gas development and production represents an extraordinary opportunity to responsibly develop the vast resources that the area is believed to contain. The legislation would require the Secretary of Interior to hold two lease sales over a seven-year period following enactment and to offer at least 400,000 acres of land in ANWR for lease at each sale. This will create jobs and raise revenue as the Congressional Budget Office estimates the legislation would raise 1.1 billion over the next ten years. And, it would help achieve the U.S. goal of being energy dominant, allowing the country to develop more of its own natural resources, and rely less on foreign oil. IADC members are encouraged by today’s vote, and IADC remains committed to serving as an educative resource on responsible and environmentally sustainable issues related to drilling activities in the U.S and internationally.”
Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at www.iadc.org.