Oklahoma Corporation Commission approved an emergency order April 22 to allow crude operators to shut in money-losing wells. According to Oil & Gas Journal, the regulatory agency said operators and producers “may shut in or curtail production from wells where they determine such action is necessary and warranted to prevent economic waste” for 90 days starting April 17. The next scheduled meeting is May 11 when testimony is expected from Oklahoma Energy Producers Alliance, which reportedly requested mandatory prorationing.
North Dakota Industrial Commission met April 21 to consider prorationing, but reportedly took no action. Oil & Gas Journal said about 5,000 wells in North Dakota have already been shut in to cut 20 percent from February production. No date was announced for the next meeting.
Railroad Commission of Texas, which also has considered prorationing but taken no official action, next will meet Tuesday, May 5. Reuters reported Wednesday that chairman Wayne Christian, who previously had not publically taken a position, told the Houston Chronicle a state-mandated cut would not significantly impact global oil supply and that he will “stick to my free market principles.”