Columbus Oil operates 27 oil wells in rural Oklahoma which each produce an average of just 8 to 10 b/d of oil equivalent. On this week's Capitol Crude, Darlene Wallace, Columbus' president, CEO and owner, talks about all the cost-cutting she's had to take to make a profit -- including getting rid of a postage machine and laying off office staff -- and why federal methane regulations may have ruined the US marginal well industry.
Lee Fuller, an executive vice president with the Independent Petroleum Association of America, stops by to talk about the impact of the US Environmental Protection Agency's rollback of methane regulations on marginal well operators, which account for roughly 10% of US oil output.