Colorado's Oil and Gas Industry Stands United

Over 2,000 oil and gas industry employees rally at the Colorado State Capitol

DENVER - In a strong show of support for the oil and gas industry, state troopers estimate 3,500 people rallied on the steps of the Colorado state capitol this afternoon. Organized by local energy companies, the rally was attended by industry employees, their families, and members of the community who stand behind this vital part of Colorado's economy. 

"As we face yet another attempt by anti-oil and natural gas activists to ban new development in Colorado, it's incredible to see our employees stand together and fight for their industry, their livelihoods, and the jobs they need to keep food on their tables," said COGA President and CEO Dan Haley. 

"The industry in Colorado supports more than 100,000 jobs and generates $31 billion dollars in economic activity. A ban of our industry would not only hurt oil and natural gas families but would have severe ripple effects throughout Colorado's economy. If approved by voters, Initiative 97 would kill an estimated 147,000 jobs by 2030 - many of them outside our industry due to the interconnectedness of our economy and the important role energy plays within it. Colorado's energy employees take great pride in their work - and their jobs - and today their voices were heard loud and clear. We are proud to work here. We are proud to live here. And we stand united as Coloradans."

Led by Liberty Oilfield Services, CEO Chris Wright, the rally featured short speeches thanking members of industry for their contributions to the economy and our communities. The speaker lineup included former Secretary of the Interior under President George W. Bush, Gale Norton; CEO of the Tennyson Center for Children, Ned Breslin; CEO of Petroshare and former Denver Bronco safety, Steve Foley; and VP of Civic Engagement for ACE Scholarships and State Representative for HD - 7, James Coleman. 

"The modern world is not possible without oil and gas," said Liberty's Chris Wright. "Together, with dramatic advances in human liberty, the mass production of oil and gas has improved the human condition in ways that would have been simply unimaginable to our ancestors. I felt tremendous pride today as our industry stood together to celebrate our contributions to not only Colorado but humankind."

Secretary Norton touted the advances our country has made in a relatively short time. "American energy independence was once thought to be impossible, yet with advances in technology, our country is rapidly moving in that direction. In 2006, the U.S. imported 60 percent of our oil. This year, we are more secure because we rely on foreign sources for only 15 percent and that number continues to decline. I think this is something we should celebrate."

The strong turnout at the rally serves as a reminder that the oil and natural gas industry is not only a critical piece of our modern economy and contemporary society, but it is also comprised of Coloradans who love living and working in our great state. 

Recent Analysis of Initiative 97

Colorado Oil and Gas Conservation Commission

Common Sense Policy Roundtable

About COGA

Founded in 1984, the Colorado Oil & Gas Association's (COGA) mission is to foster and promote the beneficial, efficient, responsible and environmentally sound development, production and use of Colorado oil and natural gas. COGA is a nationally recognized trade association that aggressively promotes the expansion of Rocky Mountain natural gas markets, supply, and transportation infrastructure through its growing and diverse membership. 

Gov. Hickenlooper Nominates Donna Lynne as Lieutenant Governor

DENVER — Wednesday, March 23, 2016 — Gov. John Hickenlooper today nominated Donna Lynne to serve as Lieutenant Governor effective upon formal confirmation by the General Assembly. Lt. Gov. Joe Garcia announced previously that he will leave the state to take on the role of president of Western Interstate Commission for Higher Education. His last day will be April 29, 2016.

Lynne will assume both the traditional duties of the lieutenant governor with additional responsibilities of a chief operating officer to direct state operations. The governor plans to discuss this new role with the General Assembly.  

Lynne is currently the executive vice president of Kaiser Foundation Health Plan, Inc. and Kaiser Foundation Hospitals, overseeing more than an $8 billion budget, 1.3 million members and 16,000 employees for Colorado, Hawaii, Oregon and Washington.

“Donna Lynne is uniquely qualified to take on this role,” said Hickenlooper. “Her background in successfully running large complex organizations - in both the private and public sector - and her wisdom and experience in operations, will enhance the lieutenant governor’s role to make even more of an impact on programs across the state.”

Lynne spent 20 years in New York City government, followed by 20 years in the private sector. Her public sector background includes serving in the New York City Mayor’s Office as Director of the Office of Operations where she helped improve service delivery, facilitated interagency projects including technology initiatives and management oversight.

“It is an honor to be asked to serve Governor Hickenlooper and the residents of Colorado,“ said Lynne. “I look forward to working with the Governor and his cabinet, a team of dedicated professionals who are committed to improving the business and overall climate of Colorado.”

An active member in the community, Lynne is a member of Colorado Concern, Colorado Forum and the Colorado Women’s Forum. She is currently serving on several boards including the Denver Museum of Nature and Science, Denver Public Schools Foundation, National Partnership for Women and Families, Teach for America-Colorado, and the University of Denver. She was also the chair of the Denver Metro Chamber of Commerce from 2013-14 and served on the board for nine years.

Most recently, she was recognized by Modern Healthcare as one of the top 25 women in health care nationally, received an honorary Doctor of Public Service degree from the University of Denver, and named as one of the 25 Most Powerful Women by the Colorado Women’s Chamber.

Lynne holds a Bachelor of Arts (Economics and Political Science), a Masters of Public Administration, and Doctor of Public Health from Columbia University.

She is married to Jim Brown and together they have five children. She enjoys the Colorado outdoors and has climbed all the fourteeners.

A search is underway in the governor’s office for the executive director of the Colorado Department of Higher Education.

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See more here.

Colorado Companies to Watch Selects 2016 Judging Panel

For Immediate Release
March 18, 2016 

Colorado Companies to Watch Selects 2016 Judging Panel
Annual awards held in Denver on June 17, 2016

Denver, CO – Colorado Companies to Watch (CCTW), now entering its eighth year, is excited to announce it has selected the 2016 judging panel. With over 1,000 companies nominated across the state, the judges now have the task of determining who will be among the CCTW winners, representing Colorado’s most innovative and impactful businesses. Winners will be announced June 17, 2016 at the CCTW Gala Awards Dinner.

This year’s esteemed judges represent a collaboration of executives from private sector and public agencies that have experience with second stage companies and are committed to the excellence of the program. The 2016 CCTW judges are:

• Sanjai Bhagat, University of Colorado at Boulder
• Heather Callender-Potters, PharmaJet
• Charles Fred, Reignite Group
• Travis Gentry, Encore Innovation Investments
• Jonita LeRoy, Governor’s Office of Information Technology
• Jill Terry, Judge Facilitator, Colorado State University
• Kate Waller, BEN Colorado
• Jeff Wasden, Colorado Business Roundtable

“The companies competing for the Colorado Companies to Watch designation represent those with the boldest, most innovative ideas driving Colorado’s economy,” said Jill Terry, Director of Executive Programs at Colorado State University and judge facilitator for the 2016 selection process. “I am honored to be working with a respected group of community leaders who have been chosen to evaluate the applications of such remarkable companies.”

CCTW is a unique awards program that recognizes and celebrates the contribution, innovation and energy of diverse 2nd stage companies in Colorado. These companies work behind the scenes generating the bulk of new, sustainable jobs and are powerful in fueling the economic fire in Colorado.

“The quality of the nominations this year is outstanding. They are a diverse and innovative group who are meaningfully contributing our local and state economies,” said Sean Nohavec, CCTW Chairman of the Board and Senior Vice President, Platinum Sponsor UMB Bank. “Our judges have an opportunity to unearth hidden gems in Colorado and award them due recognition.”

More information about the judges and the June 17th Gala Awards Dinner can be found at ColoradoCompaniestoWatch.org.

About Colorado Companies to Watch
Colorado Companies to Watch, presented by CapitalValue Advisors, is an awards program honoring 2nd-stage companies headquartered in the state of Colorado. The 350 companies that have been honored since the program’s inception demonstrate high performance in the marketplace or exhibit innovative products or processes. The program is designed to seek businesses from a wide range of industries throughout the state, not just the major metropolitan areas. The 50 companies selected each year make an astounding impact on Colorado's economy by collectively providing thousands of jobs and contributing millions of dollars in revenue. The Colorado Office of Economic Development and International Trade (OEDIT) launched the program in 2009 in conjunction with the Edward Lowe Foundation and valuable community partners from across Colorado.

For more information on Colorado Companies to Watch, visit ColoradoCompaniestoWatch.org, facebook.com/ColoradoCompaniestoWatch and Twitter @coloradoCTW.

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Media Contact
Tiffany Ramsdell, PR
720.325.2517 x603
[email protected]

University of Colorado Economic Study Shows the Oil and Gas Industry is Key to Colorado’s Economic Health and Stability

For Immediate Release
December 29, 2015

Contacts:
Doug Flanders
303-861-0362
[email protected]

Rachel George
[email protected]

New Study Shows Positive Impact of Oil and Gas to Every Coloradan

DENVER (December 29, 2015) – The oil and gas industry in 2014 pumped $31.7 billion into Colorado’s economy, according to a new economic study by the Business Research Division of the Leeds School of Business, University of Colorado at Boulder. The study, released today by the Colorado Oil & Gas Association (COGA), demonstrates the vital role the industry plays in the state’s economy.

Overall, the report found, the industry recorded $15.8 billion in production value, accounting for 38,650 direct jobs with average annual wages in excess of $105,000 —twice the average wage of all industries in Colorado. The total economic impact of the industry was $31.7 billion in 2014, supporting 102,700 jobs and $7.6 billion in compensation.

The report, Oil and Gas Industry Economic and Fiscal Contributions in Colorado by County, 2014, conducted by University of Colorado Boulder researchers Brian Lewandowski and Richard Wobbekind, found that in 2014 the oil and gas industry supported over 100,000 high paying workers and their families.

“The capital investments and industry production create jobs, income, wealth, and taxes, notably concentrated where production exists; however, as tax dollars flow into the state general fund and cash fund, the outflow of these dollars impacts every citizen in the state through investments in education, transportation, and others, “ the report stated.

Dan Haley, President and CEO of COGA said, “The industry’s overall tax bill represents approximately $600 of tax revenue per household in the state, and this does not include the industry’s corporate tax bill. Every Coloradan is positively impacted by this industry, no matter where you live.”

The report also details the significant amount of tax revenue generated by the oil and gas industry for school districts, as well as state and local governments that is well “beyond what other industries contribute. … Ad valorem taxes, for instance, are 3 times higher for oil and gas production than for commercial property within the state and 11 times higher than residential property.”

“Clearly, even as we work through this period of lower commodity prices, the oil and gas industry’s impact on Colorado’s economy is significant,” said Haley. “The industry continues to provide, and support, thousands of good paying jobs in all corners of the state. Governments across Colorado also depend on the oil and gas industry to pay for much-need public services. Without revenue from this industry, we would not be able to provide the necessary funding, or would have to further raise taxes, for public schools, roads, parks, and many other government services that Coloradans depend on.”

The study also found:

·       The oil and gas industry paid over $434.7 million in property taxes in 2014 and accounted for $156 million from the Colorado State Land Board School Trust distribution or 88 percent of the overall distribution of $178 million.

·       Severance tax revenue increased 92.9 percent from 2013 to 2014, generating $330 million in 2014 compared to $171 million in 2013.

·       In total, the oil and gas industry contributed over $1.1 billion in revenues to state and local governments, school districts, and special districts.

·       34 counties had oil production and 38 produced natural gas; 37 of Colorado’s 64 counties recorded taxable oil and gas property.

·       90 percent of Colorado’s taxable oil and gas property is in five counties: Weld, Garfield, La Plata, Rio Blanco and Montezuma.

·       Weld County produces 86 percent of the state’s oil and 25 percent of its natural gas.

·       Weld and Garfield alone accounted for 80 percent of drilling permits in 2014, with Weld having more than 66 percent of all active rigs in the state.

While Weld and Garfield Counties are the leaders in production, Denver, Weld, Mesa, Garfield, and Adams counties are the “center of employment for the industry,” accounting for 79 percent of the total direct jobs. Interestingly, the City and County of Denver had the most direct industry jobs in the state with nearly 13,000 paying over $161,000 dollars a year.

“This study clearly shows that cities and counties that either don’t have or have limited oil and production are reliant on our positive contributions to their community. When any new rules or regulations are being considered that impact oil and gas production, Weld and Garfield Counties’ voices must be heard,” Haley said. “We must avoid the domino effect of production in these two counties being negatively impacted and then the rest of the state’s employment and revenue declining as well.” 

This study used publicly available industry data to quantify the economic impacts of the industry in Colorado by county. The study examined the economic indicators and impacts to the county level, looking at employment, wages, and well activity to economic and fiscal impacts.

Go to the COGA website to see the full report on the 2014 oil and gas industries economic and fiscal contributions in Colorado.

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