Rep. Evers Issues Statement On Jay Oil Field Shutdown

January 25, 2009

State Rep. Greg Evers has issued a statement following the announcement that Denver-based Quantum Resources, Inc. was shutting down production at the Jay Oil Field due to the economic downturn and a sharp decline in oil prices.

(Click here to read  a Friday morning NorthEscambia.com story about the shutdown.)

Representative Greg Evers issued the following statement in response to Quantum’s announcements of this week:

I am deeply troubled and saddened by this week’s announcements of further downsizing and layoffs in Northwest Florida. My thoughts and prayers go out to the Quantum employees and their families whose lives have been adversely impacted by Quantum’s decision to stop production in Jay.

Hoping to get these employees back to work, create new jobs and reinvigorate future investment by Quantum and other such companies here in Northwest Florida, I filed House Bill 515 this week that, if passed, would provide economic incentives, including temporary oil and gas production tax relief, for small field producers such as Quantum.

I recognize that start-up production companies and those with smaller production capacities are the type of oil and gas companies that will be attracted to the fields of Northwest Florida. Such companies cannot be expected to compete with foreign and multi-national production giants in these economic times without some targeted incentives and tax relief. It is my hope that this small energy production investment incentive and tax relief package will help in creating and saving much-needed local Northwest Florida investment and jobs during these very challenging and difficult economic times.

Comments

5 Responses to “Rep. Evers Issues Statement On Jay Oil Field Shutdown”

  1. W.R. on January 27th, 2009 9:49 am

    Thank you Mr. Evers….We need more people in the think tanks like YOU right now and we need things to happen now. Try and get the rest of the representatives to get on board with you and do as good as your are trying to do.

  2. david leroy moorer on January 26th, 2009 4:33 pm

    I feel sorry for the people who lose there jobs, but the oil companys is a big part
    of why the economy is so bad.

  3. Jon Holley on January 25th, 2009 10:23 am

    I am glad Rep. Evers is trying to do something to help stop people from losing their jobs and I am really glad he is trying to do it with temporary tax incentives dependent on their actually having those jobs instead of with blanket handouts that Washington is so fond of. Thanks, Greg, for trying to do something to help. We have to get jobs, industry and business here in North Escambia. Anything you can do to help us attract it can only help.

  4. Chris Maloney on January 25th, 2009 5:41 am

    anybody know what the production numbers were before they shut the wells in?

    Heck the oil company i work for offshore out of Louisiana, our stock isn’t worth but $9 right now down from near $50 at peak. Our forecast is for the economy to maybe START a turn around at soonest of mid-2010. I don’t seen any oil company buying much of anything right now. Strive to Thrive.

  5. joe bloe on January 25th, 2009 2:33 am

    Well, I really think that Quantum spent way too much money trying to increase production, even after ExxonMobil advised them not too before there purchase. Exxon was making money at Jay, even when oil was much lower than it is today. The company also had way too many employees. But I am sure that they will get a hand-out just like all the other big businesses. I hate it for these families that depended on their income, and now due to mismanagement, there jobs have been deleted!!

Written by William Reynolds · Filed Under News