PBPA Hurricane Katrina Relief Fund
Category: Hurricane Katrina... Local... Oil & Gas...
Posted Thursday, September 01, 2005 at 03:36 PM [GMT-6]

The oil and gas industry has quickly rallied to provided significant financial support for Hurricane Katrina relief efforts. I identified the following announcements with just a few minutes of browsing (all contributions are going to the American Red Cross unless otherwise indicated):

• ChevronTexaco - $5 million ($3MM to ARC, and $2MM to local relief and service organizations in affected areas)
• Shell - $2 million plus matching of employee contributions up to $1MM
• ExxonMobil - $2 million
• OXY - $1 million plus matching of employee contributions
• BP - $1 million plus matching of employee contributions
• Duke Energy - $100,000 plus matching of employee contributions up to $100K
• Halliburton - Matching of employee contributions (no cap)

I'm sure that similar announcements from other major companies (including service companies) will be forthcoming.

In the meantime, the Permian Basin Petroleum Association has just announced the creation of a new relief fund and is asking smaller operators and producers throughout the Permian Basin to make contributions. The goal is to quickly raise $100,000; the fund balance is already at $20,000 after less than 24 hours. The funds will be forwarded to the Red Cross and the Salvation Army.

If you know an independent oil and gas operator or producer, please pass this information along to them and urge them to participate. Many of them may already have plans for making similar contributions and that's great. This fund is just another way to help make an impact. And, if it's not obvious, anyone can make a contribution to the fund. You don't have to be in the bidness!

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