In advance of the Thursday, March 25 Department of Interior virtual forum regarding the federal oil and gas program, the Independent Petroleum Association of America (IPAA) submitted a written statement to inform the department’s interim report that the agency said will be released early summer with findings from their comprehensive review.
“…IPAA and our members are extremely concerned about efforts by the Biden Administration to alter the foundational elements of the Department of Interior’s oil and natural gas leasing program for onshore and offshore federal lands. Federal lands and waters together accounted for 22 percent of total U.S. oil production and 12 percent of U.S. natural gas production in 2019, according to the Energy Information Administration. ... Production of oil and natural gas from these areas are an important part of the nation’s energy portfolio and will be key to ensuring the United States remains a key player in the worldwide energy picture. …
“Responsible development of federal lands in the West and in federal offshore waters with a regulatory program designed to protect the environment and public is achievable. IPAA and our members look to coordinate and cooperate with federal and state regulators to find innovative solutions that address climate issues, management of methane and protect and reclaim federal lands…”
Click here for IHS Markit study on independent oil and natural gas operators referenced in the statement.