Mick Thomas

Division Administrator – Minerals, Public Trust, and Oil & Gas

Secretary to the Oil & Gas Conservation Commission

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

Commissioners,

Not many updates since we held our quarterly meeting this week. See below.

Current Items:
Application for Permit to Drill
News Article(s) of Interest
Current Prices

Application for Permit to Drill
The comment period for the application for permit to drill submitted by Snake River Oil & Gas, LLC for a proposed Barlow #2-14 well ended this past Wednesday, August 5. The Department is preparing those comments for posting on Monday, August 10th on the Well Permit Applications page. The application is already posted.

News Article(s) of Interest
Office of Inspector General finds royalties paid by Idaho Oil & Gas operator on federal interests are accurate:
https://www.doioig.gov/sites/doioig.gov/files/InvestigativeSummary_SuspectedRoyaltiesFraudONRRID.pdf 
NOTE: I have requested a copy of the full report and will share when it is received.

Increase in US LNG export projected in August
https://www.reuters.com/article/usa-lng-exports/u-s-lng-exports-set-to-rise-for-the-first-time-in-six-months-idUSL1N2F50YS

US LNG sector shows resilience during pandemic
https://www.reuters.com/article/us-united-states-lng-exports-graphic/record-u-s-lng-output-jump-lifts-exports-in-weak-market-idUSKCN24U1WX?il=0

Current Prices

Utah Sweet Crude	$32.65 bbl.	8/06
WTI	$41.53 bbl.	8/07
Natural Gas	$2.25 mcf.	8/07
NGL	$5.00 mmbtu.	8/05