Airport Participation in Oil and Gas Development (2018) / Chapter Skim
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Pages 5-12
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5 CHAPTER ONE INTRODUCTION PURPOSE OF THE SYNTHESIS In many areas of the country, airports supplement aeronautical revenue with proceeds from mineral extraction programs. Structuring a project that will be favorable to the airport sponsor and will comply with FAA and environmental requirements requires a nuanced approach.
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6 FIGURE 1 U.S. Natural Gas Industrial Price (Dollars per Mbtu)
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7 • For general aviation airports, high fuel prices and the recession temporarily extinguished demand for recreational and personal flying. These factors made on-airport energy development particularly attractive to airport sponsors, and many airports with oil and gas reserves explored extraction programs.
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8 for regulating oil and gas development; in Colorado, it is the Colorado Oil and Gas Conservation Commission. In Pennsylvania, the Department of Environmental Protection, Office of Oil and Gas Management is the state regulatory agency.
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9 FIGURE 3 Oil and Gas Well Development. Source: Pearson 2016.
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10 On-Airport Working Interest The third participatory model involves the airport sponsor taking a working interest6 in the extraction of oil and gas. In this model, the airport sponsor owns a portion or all of the oil and gas leasehold.
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11 FIGURE 5 Report Organization. Source: KRAMER aerotek, 2016.
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12 3 See Pearson (2016)
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