The American Association of Petroleum Geologists president Will Green recently drafted a letter to House Speaker Nancy Pelosi, Majority Leader Steny Hoyer and Minority Leader John Boehner. It was a response to the recent debate about access and leasing activities on federal lands. The geologists' organization strove to make several key points. It marked the long lengths of time often required to find oil and gas deposits and bring them to market, as well as the risks of exploration. AAPG pointed out the variability of the distribution of oil and natural gas deposits in the subsurface. One of the common misunderstandings the industry faces is the perception that it sits upon vast tracts of federal acreage that it does not develop. The professional organization noted that some acreage available for leasing is never leased, because there is no compelling idea of why oil or natural gas should occur there. Other acreage is leased and repeatedly drilled with no success. Initiatives to increase exploration costs, decrease the available time to properly evaluate leases, and restrict access to federal lands both onshore and offshore "do not provide the American people with short-term relief from high prices and undermine the goal of increasing stable, long-term supplies," wrote Green. True indeed. To read the entire letter, click here by Peggy Williams, Senior Exploration Editor, Oil and Gas Investor pwilliams@hartenergy.com
Recommended Reading
Avant Natural Resources Steps Out with North Delaware Avalon Tests
2024-08-21 - With the core of the Delaware Basin in full manufacturing mode, Avant Natural Resources is pushing an operated portfolio into the northern reaches of the New Mexico Delaware.
Private Equity Looks for Minerals Exit
2024-07-26 - Private equity firms have become adroit at finding the best mineral and royalties acreage; the trick is to get public markets to pay more attention.
Industry Consolidation Reshapes List of Top 100 Private Producers in the Lower 48
2024-06-24 - Public-private M&A brings new players to top slots in private operators list.
The OGInterview: BPX E-fracs Push ‘Values Up, Emissions Down,’ CEO Says
2024-07-02 - BPX Energy CEO Kyle Koontz discusses the company’s role as the “nimble entrepreneurial” arm of supermajor BP in the Permian Basin and Haynesville and Eagle Ford shales.
Permian Operations at Risk as Wastewater Equation Remains Unbalanced
2024-06-17 - Wastewater injection is a growing cause of induced seismic activity in oil- and gas-producing regions in the U.S., and without proper management solutions, operational capacities are at risk.