PLEASE NOTE: Due to legislative session breaks and summer scheduling, there is no report on July 20. The next report will be published July 27. In the interim, please keep an eye on the AAPLConnect member forums and Landnews e-newsletters for breaking information.
FEDERAL - REGULATORY: BLM; National Petroleum Reserve – Alaska. On June 25, the Bureau of Land Management (BLM) announced its latest plans for oil and gas leasing in the National Petroleum Reserve – Alaska (NPR-A). The Final Integrated Activity Plan/Environmental Impact Statement allows 18.7 million acres of the approximately 23-million-acre area to be open to leasing. This area is significantly greater than the 11.8 million acres of the NPR-A that is currently open for oil and gas leases. The BLM plan would also open drilling in the Teshekpuk Lake Special Area, which is currently protected and is home to a variety of animals like caribou and migratory birds. Proponents of the plan said that this would give the U.S. more access to valuable resources, while opponents expressed concern about its environmental impacts. “President Trump has committed to expand access to our Nation's great energy potential,” said Interior Secretary David Bernhardt in a statement. “Today's action is one more significant step in the process of delivering on his promise.” Read more.
STATE - LEGISLATIVE: Recording Fees – Mississippi. (Update to 6/22/20 Weekly Report) On June 29, HB 1175 was signed into law by Gov. Tate Reeves (R). The Act, sponsored by Rep. Brent Powell (R), revises court clerk fees charged for recording oil and gas assignment instruments from a per book and page fee to a “per assignee” flat fee and allows for a set fee for marginal notations entered pertaining to the recording of oil and gas assignments. The Act takes immediate effect. Read more.
INDUSTRY NEWS: Petroleum demand begins recovery. According to the American Petroleum Institute’s latest monthly statistical report, petroleum demand, as measured by total domestic petroleum deliveries, was 16.2 million b/d in May. This was 20% below the May 2019 level but reflected an increase of 14% (2 million b/d) from April—the largest percentage increase for any month since December 1975. Read more.