Growth Fund Testifies to House Committee on BOEM Offshore Leasing Program On Wednesday, October 18, Southern Ute Growth Fund Executive Director Shane Seibel testified to the House Committee on Natural Resources, Subcommittee on Energy and Mineral Resources. The oversight hearing, “Examining the Biden Administration’s Unprecedented Obstruction of the BOEM Offshore Leasing Program,” explored the Bureau of Ocean Energy Management’s Proposed Final Program, which drastically reduced proposed lease sales from 47 in 2018 and 11 in 2022 to 3 in the 2024-2029 Program. The Southern Ute Growth Fund owns and operates Red Willow Production Company. The company engages in the acquisition, exploration, development, and production of oil and natural gas reserves in an environmentally conscious and culturally prudent manner. In 2004, Red Willow began its successful venture in the Deepwater Gulf of Mexico with various operating partners who own 14 wells across seven fields. Red Willow’s strategy emphasizes quick production and high ROI through high-probability prospects near existing infrastructure, further enhanced by regular federal lease acquisitions and exploration agreements. “The tribe’s economic success has been tied to the development of energy resources. The interests in the offshore leasing program are similar to that of the US,” stated Seibel. “The revenues received by the tribe through the GF are a major funding source for the reservation’s schools, healthcare facilities, law enforcement, and cultural preservation.” https://lnkd.in/g2hiXB-9
Red Willow Production Company
Oil and Gas
Ignacio, Colorado 1,355 followers
Red Willow Production Company (Red Willow) is wholly owned by the Southern Ute Indian Tribe Growth Fund.
About us
Red Willow Production Company is a private oil and gas exploration and production company owned by the Southern Ute Indian Tribe and headquartered in Ignacio, Colorado. Founded in 1992, it operates on the Southern Ute Indian Reservation as Red Willow Production Company. Off the reservation, it operates under several LLCs, most notably Red Willow Offshore, LLC, and Red Willow Production, LLC. It has grown significantly since its inception and is now one of the US's top 25 largest privately owned oil and gas companies. Red Willow holds an interest in over 1,800 operated and non-operated wells with net production of over 70 billion cubic feet of gas equivalent per year. Although Red Willow has expanded operations significantly off the reservation, the San Juan Basin remains the backbone of the company’s operations. The company also has a significant interest in a number of projects in the Deepwater Gulf of Mexico. It is actively developing assets in the Delaware basin in West Texas and other onshore regions.
- Website
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http://www.rwpc.us
External link for Red Willow Production Company
- Industry
- Oil and Gas
- Company size
- 51-200 employees
- Headquarters
- Ignacio, Colorado
- Type
- Privately Held
- Founded
- 1992
Locations
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Primary
Get directions
P.O. Box 737
Ignacio, Colorado 81137-0737, US