Page 12 - NorthAmOil Week 02 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

investments from backyards, recreation areas, and community
POLICY Orphaned oil and gas wells pollute
BOEM Issues Final Bipartisan Infrastructure spaces across the country. Methane leaking
from many of these unplugged wells is a
Environmental Analysis for Law serious safety hazard and is a significant cause
of climate change, being more than 25 times
Upcoming Gulf of Mexico Oil Secretary of the Interior Deb Haaland as potent as carbon dioxide at trapping heat
in the atmosphere. The historic investments
today issued a Secretary’s Order to establish
and Gas Lease Sales an Orphaned Wells Program Office to to clean up these hazardous sites will create
good-paying union jobs, catalyse economic
ensure effective, accountable and efficient
The Bureau of Ocean Energy Management implementation of President Biden’s growth and revitalisation, and reduce harmful
(BOEM) issued its Final Supplemental Bipartisan Infrastructure Law’s historic methane leaks.
Environmental Impact Statement (EIS) investment in orphaned well clean up. The Bipartisan Infrastructure Law’s $4.7bn
for two upcoming Gulf of Mexico Outer The Bipartisan Infrastructure Law delivers investment is divided into three programmes:
Continental Shelf oil and gas lease sales, Lease the?largest investment in tackling legacy $4.3bn to be used to plug orphaned wells
Sale 259 and Lease Sale 261, to comply with pollution in American history, including on state and private lands; $250mn to cap
the Inflation Reduction Act of 2022. through a $4.7bn investment to plug orphaned wells on public lands, including in
On October 6, 2022, BOEM issued a Draft orphaned wells. These legacy pollution sites national parks, national forests, and wildlife
Supplemental EIS, and received feedback from are environmental hazards and jeopardise refuges; and $150mn to cap orphaned wells on
the public during a 45-day comment period. public health and safety by contaminating Tribal lands.
During the comment period, BOEM held two groundwater, emitting noxious gases and US DEPARTMENT OF THE INTERIOR, January
virtual meetings to provide information about methane, littering the landscape with rusted 10, 2023
the Draft Supplemental EIS and to collect and dangerous equipment, and harming
public comments. This resulted in BOEM wildlife. Secretary’s Order 3409 establishes
receiving nearly 76,000 public comments on a new Program Office at the Department UPSTREAM
the Draft Supplemental EIS. under the Assistant Secretary for Policy,
The Final Supplemental EIS includes an Management and Budget to ensure timely Talos Energy sets
expanded greenhouse gas (GHG) analysis and and transparent implementation of the new
provides an analysis of monetized impacts program and to enable better communication special meeting date for
from these estimated GHG emissions. with states, Tribes and other partners. The
The Inflation Reduction Act mandates office will be led by Director Kimbra Davis, stockholder approval of its
Lease Sale 259 to be held no later than March who has served at the Department since
31, 2023, and Lease Sale 261 to be held no April 2009, with support from staff with deep acquisition of EnVen
later than Sept. 30, 2023. expertise in orphan well remediation and
BOEM, January 09, 2023 Tribal engagement. Talos Energy announced that the US
“Through President Biden’s Bipartisan Securities and Exchange Commission has
Secretary Haaland Infrastructure Law, we are making a historic declared effective its registration statement on
Form S-4 related to its previously announced
investment to tackle legacy pollution – the
establishes Orphaned largest in American history. As part of this acquisition of EnVen Energy and that Talos
has set a date of February 8, 2023 for the
effort, the Department is standing up a new
Wells Program Office office to support states, Tribes and federal Special Meeting of its stockholders to vote
land managers as they close and remediate
and approve certain matters relating to
to implement historic orphaned oil and gas wells that pose such acquisition. Talos expects to close the
transaction soon after the special meeting.
environmental hazards to communities across
the country,” said Secretary Haaland. TALOS ENERGY, January 11, 2023
NOG announces closing of

upsized acquisition in core

Midland Basin development

project

Northern Oil and Gas today announced the
closing of its acquisition of non-operated
properties in the core of the Midland Basin.
On January 5, 2023, NOG closed on its
previously announced acquisition of non-
operated interests in the Mascot Project
from Midland Petro DC Partners (MPDC).
As part of the closing, NOG upsized the

P12 www. NEWSBASE .com Week 02 12•January•2023