Mick Thomas

Division Administrator – Minerals, Navigable Waters, and Oil & Gas

Secretary to the Oil & Gas Conservation Commission

This update was sent to the Commission on Saturday, July 8, 2023.

July 2023 Secretary Update

Current Items:
Title 47, Chapter 3 – revised statute now in effect
Docket No. CC-2023-OGR-01-001, Application for Integration
New Commissioner Selection
Field Status
News Article(s) of Interest
Current Prices

Title 47, Chapter 3 – revised statute now in effect
The revised statute for Title 47, Chapter 3 took effect on July 1, 2023. The revised language is available on the Legislature website here: https://legislature.idaho.gov/statutesrules/idstat/Title47/T47CH3/

Docket No. CC-2023-OGR-01-001, Application for Integration
The Department received an Application for Integration from Snake River Oil & Gas, LLC on January 23, 2023. All documents, including my most recent June 30 order and notice of August hearing can be found on the Docket No. CC-2023-OGR-01-001 hearing webpage.

New Commissioner Selection
The Governor’s office is actively working to replace former commissioners Classen and Miller. Replacements will be selected in time for the August meeting, if not sooner. I will keep the current commissioners updated as the process continues.

Field Status
Natural gas prices in the pacific northwest have dropped significantly over the past few months. The operator is evaluating production options to conserve the resource and protect mineral interest owners. The Department is monitoring production and sale price closely.

News Article(s) of Interest
Natural gas prices in the NW U.S. is among the lowest, while Electricity spot price is second highest in the U.S., in many cases 50% higher than other regions:
U.S. Energy Information Administration – EIA – Independent Statistics and Analysis

Idaho is in the top four states nationwide for in-state electricity production from renewable resources.
U.S. Energy Information Administration – EIA – Independent Statistics and Analysis

Current Prices

NW Natural Gas (EIA)	$2.02 MMBtu.	07/07/23	(no change since last month)
NGL (EIA)	$5.70 MMBtu.	07/06/23	(1% / $0.06 decrease since last month)
WTI	$71.76 bbl.	07/07/23	(0.7% / $0.48 increase since last month)