Utah Oil and Gas Report

A Newsletter of the Utah Petroleum Association

April 4, 2008

IN THE NEWS
UPA maintains a running archive of local media headlines affecting Utah's oil and gas industry.  View Here

UPCOMING EVENTS

April 10, 2008

Uinta Basin Oil and Gas Collaborative Group

9:00 a.m.

BLM - Vernal Field Office

 

April 17, 2008

SPE Workshop - Gas and Oil Developments in Utah

South Towne Expo Center

8:00 a.m.

DOGM LIVEDATA

The Utah Division of Oil, Gas and Mining maintains the LiveData Online Oil and Gas Information System.  Through LiveData, you can access well info, production info, etc.

RIG COUNT
April 4 38
April 11  
April 18  
April 25  
   
April Avg 38
   
March Avg 41
COMMODITY BENCHMARKS
Crude Oil $105.48
WTI - $/bbl  
   
Natural Gas $9.66
Henry Hub  
$/MMbtu  
(as of 4/4/08)
MOTOR FUEL PRICES
AAA Fuel Gauge Report
Utah Average
Regular $3.264
Diesel $4.052
National Average
Regular $3.303
Diesel $4.023
Utah Gas Prices.com
Utah Average
Regular $3.240
National Average
Regular $3.314
(as of 4/4/08)
Uinta Basin Oil and Gas Collaborative Group Meeting

The next Uinta Basin Oil and Gas Collaborative Group meeting has been scheduled for Thursday, April 10, 2008.  The meeting will be held from 9:00 a.m. to 12:00 p.m. at the Bureau of Land Management office located at 170 S. 500 E. in Vernal.

 

The agenda will be as follows:

  • "What is USTAR - Mark D. Raymond

  • Review of recent report "Effects of Saline-Wastewater Injection on Water Quality in Altamont-Bluebell Oil and Gas Field" - U.S. Geological Survey

  • Limited Round Robin Discussion

UPA Comments on Oil Shale PEIS

UPA has submitted comments on BLM's Oil Shale-Tar Sands Draft Programmatic Environmental Impact Statement (PEIS).  This document will be critical in the future development of oil shale/tar sands resources in Utah and other western states (Read UPA Comments).  UPA encourages members to submit comments.  BLM has extended the Comment Period on the PEIS for an additional 30 days (read notice).

 

New EPA Ozone Standard - Utah "Prepared"

The U.S. Environmental Protection Agency announced March 12 that it is reducing the allowable amount of ozone from 80 parts per billion to 75 parts per billion.  Utah's Wasatch Front counties, including Salt Lake, Davis, Weber, Utah, Box Elder and Tooele will be most impacted.  Many Utah areas have complied with the old standard in recent years only due to a liberal rounding convention allowed by EPA.  The new standard will likely prove difficult for Utah to meet given our State's growth, economic vitality and geography. 

 

A recent Utah DEQ News Release stated that "Ongoing actions by Utah environmental regulators, industry, and the public are more critical than ever to meet the new tougher ozone levels recently announced by EPA".  "We may look at tightening regulations for gasoline stations, among other alternatives," said Cheryl Heying, Director of the Utah Division of Air Quality.  "We have been expecting a new, tougher ozone standard and will ensure all areas meet the standard as soon as possible."

EPA to Issue ANPR on Greenhouse Gases

The U.S. Environmental Protection Agency has indicated its plans to issue an Advanced Notice of Proposed Rulemaking on greenhouse gases sometime in the early part of this year in response to last year's Supreme Court decision in Massachusetts v. EPA.  EPA Administrator Stephen Johnson outlined the Agency's intentions in a March 27 letter to Congressmen Henry Waxman and Tom Davis of the Committee on Oversight and Government Reform.  

The action was immediately denounced by Waxman, Chair of the Committee.  " This is a transparent delaying tactic and a major reversal of EPA's position.  In December, Administrator Johnson found that CO2 emissions endanger the environment and proposed new standards for motor vehicles. Today's action repudiates those efforts."

In his letter, Johnson explained that as the agency was considering how best to respond to the Supreme Court decision, Congress passed the Energy Independence and Security Act of 2007, which President Bush signed into law on December 19, 2007.  EPA's review "has made it clear that implementing the Supreme Court's decision could affect many sources beyond just the cars and trucks considered by the Court, including schools, hospitals, factories, power plants, aircraft and ships."  "In fact, the agency currently has many pending petitions, lawsuits, and deadlines that must be viewed in light of the Supreme Court's decision."

Johnson continues, "Such an approach makes sense because, as the Act is structured, any regulation of greenhouse gases - even from mobile sources - could automatically result in other regulations applying to stationary sources and extend to small sources including many not previously regulated un the Clean Air Act".  Administrator Johnson concluded that soliciting public input through the ANPR is the best approach, because it will provide "the appropriate care and attention this complex issue demands."

 

SPE Workshop Scheduled

The Salt Lake Petroleum Section of the Society of Petroleum Engineers (SPE) is sponsoring a one-day workshop on recent exploration, development, and petroleum revitalization activities in Utah.  The program is broad-based and topical.  All proceeds will go to the Salt Lake Petroleum Section's Richard E. Wyman Scholarship program.  The event will be held April 17 at the South Towne Expo Center in Sandy. To register, go to http://speutah2008update.eventbrite.com

Lobbyist Report Due

All registered lobbyists are required to file a quarterly financial report by Thursday, April 10.  The report must be filed even if no expenditures were made.  The requirement to file also applies to each principal or government officer who made expenditures to benefit public officials.

 

The easiest way to file your report is by using the Lobbyist Online System at www.elections.utah.gov.  To obtain a password, call the Lt. Governor's Office at (801) 538-1041.

U.S. Gasoline Situation Update - April 3, 2008 (courtesy: API)

The U.S. average price for regular grade gasoline rose for the sixth time in the last seven weeks, according to the Energy Information Administration (EIA), reaching its third record price in the last four weeks.  For the week ending March 31, the weekly average price rose 3.1 cents (1.0 percent) to a record nominal price of $3.290 per gallon - above the 2007 record set on May 21, 2007, by 7.2 cents.  The current price was above a year ago for the 31st consecutive week, up 58.3 cents (21.5 percent) - the smallest year-over-year difference since October 15.  Prices were higher throughout the US this week, the Midwest posting the largest increase this week, up 5.7 cents, followed by: the Gulf Coast (4.0 cents), the Rocky Mountain region (3.4 cents), the East Coast (1.5 cents), and the West Coast (0.6 cent).

Utah Petroleum Association
275 East South Temple, Suite 150
Salt Lake City, Utah 84111
Phone: (801) 364-1510

Copyright © Utah Petroleum Association 2008

www.utahpetroleum.org


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