The Independent Petroleum Association of America (IPAA) visit the NASDAQ MarketSite in New York City's Times Square during IPAA's Oil and Gas Investment Symposium in New York City.
In honor of the occasion, Barry Russell, President of The Independent Petroleum Association of America [IPAA], presides over the NASDAQ Opening Bell.
About The Independent Petroleum Association of America (IPAA):
The Independent Petroleum Association of America (IPAA) has represented independent oil and natural gas producers for three-quarters of a century. On June 10, 1929, President Herbert Hoover called a national and state conference to discuss and formulate a practical program for the conservation of America's natural petroleum resources. At that historic meeting at the Broadmoor Hotel in Colorado Springs, Colorado, oil operators, royalty owners, and land owners alike formed a new national association, the IPAA.
Today, IPAA represents the thousands of independent oil and natural gas producers and service companies across the United States. Independent producers develop 90 percent of domestic oil and gas wells, produce 68 percent of domestic oil and produce 82 percent of domestic natural gas.
A recent analysis has shown that independent producers are investing 150 percent of their domestic cash flow back into domestic oil and natural gas development -- borrowing funds to enhance their already aggressive efforts to find and produce more energy.
IPAA is a national trade association headquartered in Washington, D.C.
It serves as an informed voice for the exploration and production segment of the industry, and advocates its members' views before the U.S. Congress, the Administration and federal agencies. IPAA provides economic and statistical information about the domestic exploration and production industry. IPAA also develops investment symposia and other opportunities for its members.
About NASDAQ OMX:
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,900 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including First North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs.
NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
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