OGCC Secretary Update – December 2024

Shannon Chollett

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

Secretary to the Oil & Gas Conservation Commission

This update was sent to the Commission on Friday, December 6, 2024.

December 2024 Secretary Update

Current Items:
Third Quarter Commission Report
New look on the OGCC Website
IDAPA 20.07.02 Rulemaking Update
Field Status / Injection Well Update
News Article(s) of Interest
Current Prices

Third Quarter Commission Report
The 2024 Third Quarter Report to the Commission is included as an attachment to this update. Please feel free to reach out to me or James Thum if you have any questions.

New look on the OGCC Website
The OGCC website is undergoing some updates to help improve accessibility. The changes are expected to be mostly visual and the content and layout should remain the same. The updated website is expected to be pushed out during January 2025. If you experience any issues with the new launch, please let me or James Thum know.

IDAPA 20.07.02 Rulemaking Update
The Notice of Pending Rulemaking published in the Administrative Bulletin this past Wednesday. This will be submitted to the Senate Resources and Environment Committee and the House Resources and Conservation Committee in the 2025 Legislature. More information on the details of the meetings, rulemaking, and documents are posted on the rulemaking webpage at: https://ogcc.idaho.gov/rulemaking/docket-20-0702-2401-oil-gas/

Field Status / Injection Well Update
October production numbers submitted this week by Snake River Oil & Gas indicate a slight uptick in production volumes from September to 3 million cubic feet of gas per day (MMCFGD) and 61 barrels of condensate per day (BCPD). Production is occurring from six wells – five in Harmon Field, one in Willow Field. An October inspection indicates no construction activity has commenced on the DJS Properties #2-14 Class II injection well. EPA Region 10 has extended the permit expiration date to December 19, 2026.

News Article(s) of Interest
Trump energy policy: Canadian oil patch has $24B shield against Trump tariffs – Bloomberg

Energy and Politics: House Republicans question DOE ban on LNG exports – The Center Square

Update on I-2066: Both sides prepare for legal battle over Washington voter Initiative 2066 on natural gas – The Center Square

Oil Price Report: Oil edges lower while OPEC+ delays supply hike – Bloomberg

Current Prices

NW Natural Gas (EIA)	$3.51 / million Btu	12/5/2024	(456% / $2.74 increase since previous month)
NGL (EIA)	$6.33 / million Btu	10/31/2024	(4.5% / $0.30 decrease since previous month)
WTI	$68.81 / bbl	12/5/2024	(5.3% / $3.88 decrease since previous month)