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State Policy News
Loren Furman Selected as Finalist for 2015 Business Leader Power Book Award by Denver Business Journal
Yesterday, the Denver Business Journal announced the finalists who have earned recognition for being a business leader in Colorado and who are chosen for the 2015 Denver Business Journal Power Book. The selection was based on those who have been prominent in the news over the last year or who deserve recognition for recent business accomplishments.
This is the third year that CACI’s Loren Furman has been named as a finalist, and the 2015 finalists for the Economic Development and Government category included:
|Governor John Hickenlooper
|Mayor Steve Hogan
|Mayor Michael Hancock
|Mayor Bob Murphy
|Senator Mark Scheffel
|Representative Tracy Kraft-Tharpe
Loren is the Senior Vice President of State and Federal Relations for CACI. She currently serves on the Board of Directors for the Colorado Civil Justice League and served as Board Chair in 2014. She also serves on the Vital for Colorado Board of Directors, Coloradoans for Responsible Energy Development Board of Directors and the Colorado Association of Professional Lobbyists Board of Directors. She previously served as the private sector Co-Chair of the American Legislative Exchange Council (2013 & 2014).
Loren was named as one of Colorado’s Most Influential Women: Up and Coming by the Denver Post in 2012, and was named a Top Business Newsmaker, Denver Business Journal Power Book Awards in both 2013 and 2014.
Weatherford Opens Longmont Operations Center
CACI’s John Cullen and Bonnie Finley recently attended an open house at CACI Silver Partner Weatherford at its new state-of-the-art operations center in Longmont. More than 250 visitors, including representatives from oil and gas operators from nearby well sites and from offices in downtown Denver attended the event.
Weatherford technical experts demonstrated some of the latest advancements in drilling and production technology for the Denver-Julesburg (DJ) Basin. On display were a full array of artificial-lift equipment—reciprocating rod lift, gas lift, hydraulic lift, capillary injection, progressive cavity pumping and plunger lift—and the company’s newest automation-and-control systems.
The event also included a virtual reality experience that featured the recently commercialized Revolution® rotary-steerable system, which is optimized for drilling horizontal wells. Other technology represented at the open house included well-site geoscience services, open-hole and cased-hole wireline services, testing and production, cementing products, wellhead systems, pressure control equipment and completion tools.
“We are excited to showcase our Longmont facility, and we greatly appreciate the support that we received from the people who attended,” stated Bill Marchant, General Area Manager of the Weatherford Western Area. “Our goal for the event was to improve the perception of our capabilities, technology offerings, and professional services that we offer in the region. Our investment in the Longmont property demonstrates our commitment to the operators and communities in the DJ Basin. We are here to deliver quality products and services that our clients expect from Weatherford.”
The Longmont facility is situated on more than 32 acres of land located in the I-25 Business Park, which is approximately 35 miles north of Denver. The artificial-lift systems/production optimization facility opened in April 2015. The facility also houses automation and control, drilling services and well testing/fracturing flow back services.
Weatherford plans expansion of the facility to include three additional buildings that will warehouse completion technology, fishing and rental operations and the “Prep Center,” which will assemble and deliver pumping units for the entire mid-continent region.
Weatherford is among the largest global oil and gas service providers, delivering innovative technologies and services for drilling, formation evaluation, well construction, completion, stimulation and production. Its global network spans more than 100 countries and approximately 1,350 locations, including manufacturing, service, research and development and training facilities.
Steady as She Goes: State Releases Forecasts for Continued but Slower Economic Growth—and Possible Budgetary Chaos
On Monday, the Governor’s Office of State Planning and Budgeting and the legislature’s nonpartisan economists issued their respective, quarterly economic-and budget-forecasts.
“A slowdown in oil and gas drilling could trim economic growth in Colorado enough to trigger an automatic increase in transportation funding next year,” wrote Ed Sealover, statehouse reporter for The Denver Business Journal.
“The state’s byzantine budgetary system—and the reason it drives some business leaders nuts—was on full display Monday as (the) legislature’s Joint Budget Committee received the quarterly economic forecast for the state,” Sealover wrote.
Meanwhile, John Frank, statehouse reporter for The Denver Post, wrote, “Colorado taxpayers are poised to receive a $154 million tax refund in 2015, even as this fiscal’s state budget faces a potential $220 million deficit.”
The chaotic contradictions of Colorado’s budget are a function of the complex interplay TABOR and a 2009 law designed to transfer money from the General Fund to highway projects, depending on revenues and the TABOR limit.
For detailed information on the two quarterly economic-and-budget forecasts, read:
“Colorado to issue TABOR tax refunds despite potential state budget deficit,” by John Frank, The Denver Post, September 21st.
“Colorado highway funding is in the budget crosshairs,” by Ed Sealover, The Denver Business Journal, September 21st.
“Colorado revenue forecast projects slower but steady growth,” Office of the Governor, September 21st.
“September 2015, The Colorado Economic Outlook, Economic and Fiscal Review,” Office of State Planning and Budgeting
“Focus Colorado: Economic and Revenue Forecast,” Economics Section, Colorado Legislative Council, September 21st.