2011 Offshore Technology Conference Held in Houston, Texas. Americans Express Caution for Drilling Practices After the BP Debacle

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The annual OCT (Offshore drilling Conference) was recently held in Houston, Texas, May first to fifth. OTC is an international event, where experts from around the world focus on the development of offshore resources in drilling, exploration, production and environmental protection.

"To make a decision like this when one foreign company may not have followed all of the guidelines imposed on the offshore drilling companies was a knee jerk reaction."

International oil production is expected to raise investment production projects to more than $380 billion this year, according to offshoredrillings.com, Singapore.

And to Quote offshoreenergytoday,com, “Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) Director Michael R. Bromwich delivered remarks at the 2011 Offshore Technology Conference (OTC) in Houston, Texas. OTC. He states, “It was just over a year ago that I became Director of BOEMRE. The agency had just received a new name and had a huge task ahead of it: undertaking a top-to-bottom reorganization and implementing major regulatory reforms, while at the same time responding to the worst offshore oil spill in United States history…The tragic loss of life and the enormous damage to the environment was a wake-up call for industry and government alike, sending a clear message that we had to take a good, hard look at existing safety technologies, practices, and regulations and make immediate, and lasting, improvements.”

While recognizing this horrific event in US oil and gas history, Kevin Boyles CEO of oil and gas company Team Resources had these remarks of caution to add to the debate. “Ever since the BP accident last year, our president and congress decided to halt all new offshore drilling – for everyone – even companies with impeccable safety records. This was seen as a radical decision in the industry as very few accidents have taken place over the last 4-5 decades. To make a decision like this when one foreign company may not have followed all of the guidelines imposed on the offshore drilling companies was a knee jerk reaction, Mr. Boyles goes on to affirm. Several of the large rigs have already pulled out of the area and will not be available for years before they could return. much of the us oil and natural gas comes from this region and with no new drilling taking place will eventually have this area in a production decline situation. With domestic production in a decline will only cause more dependence on foreign oil and natural gas.”

Team Resources, Inc., headquartered in Ventura, California, is an oil and natural gas operating company founded in 2002 by President & CEO Kevin Boyles. Team's current development acreage is located in S.E. Kansas, with field offices located in Yates Center and Burden, Kansas. Team Resources, Inc owns 50% of BC Management Services Corp. (Team's Kansas Production, Operating and Service Company). BCMSC is a "hands on" company presently operating more than 40 wells and Team's 300+ mile natural gas transmission pipeline, thus ensuring delivery of natural gas to market for Team and other area oil / gas producers. BCMSC maintains Team's properties by owning a completion rig, dozers, trenchers and gravel / water trucks that provide the ability to build infrastructures. Team offers the opportunity to speak directly with the owner of the company, we also invite our investing partners to meet us out on location and experience a personal “field trip”.

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