SWESC Statement on House Committee Approval of Energy Legislation

HOUSTON, April 13, 2011 /PRNewswire-USNewswire/ -- Jim Noe, Executive Director of the Shallow Water Energy Security Coalition, issued the following statement in response to approval of energy legislation by the House Natural Resources Committee:

"We are pleased that the House has taken this first step to approve the American Energy Initiative. H.R. 1229, H.R. 1230 and H.R. 1231 are a welcome effort to expand offshore energy production, lower energy prices and create jobs.

"In particular, we commend the adoption of the Flores amendment on H.R. 1229, which would provide a one-year extension to the hundreds of leases impacted by the drilling moratorium. While rigs are idled due to regulatory delay, Congress should prevent time from running out these leases. The Flores amendment allows leaseholders to make up for lost time.

"We hope that this House action will spur the Senate to consider companion energy legislation. A bipartisan consensus exists to put the Gulf of Mexico back to work. We have the resources and technology to make America less dependent on foreign oil. All we need is for Congress to supply the will – the will to drill."

About the Shallow Water Energy Security Coalition

The Shallow Water Energy Security Coalition comprises a group of companies—Apache Corporation, Arena Offshore, Chevron, Delta Towing, Dynamic Offshore Resources, Energy XXI, Ensco, Hall-Houston Exploration, Hercules Offshore, Phoenix Exploration, Rowan Companies, Seahawk Drilling, W&T Offshore, and Walter Oil & Gas— that explore, develop and drill for natural gas and oil in the shallow waters of the Gulf of Mexico.  The coalition was established to enhance the understanding of shallow-water operations as policymakers develop legislative and regulatory responses to recent events. Follow us on Twitter @ShallowWaterNRG

SOURCE Shallow Water Energy Security Coalition