National Petroleum Council report tackles issues important to energy security

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Contact:  Erica Carr  405-525-3556 x 106erica.carr@iogcc.state.ok.us

National Petroleum Council report tackles issues important to energy security

The Interstate Oil and Gas Compact Commission (IOGCC) praised the National Petroleum Council for their attention to low volume, marginal oil and gas wells and the energy workforce in their report released Wednesday “Facing the Hard Truths about Energy” prepared for U.S. Secretary of Energy Samuel Bodman.

IOGCC was one of many organizations across the country that provided information and recommendations to the council for the report, which concerns the future of oil and natural gas through 2030.

“I am pleased that the National Petroleum Council supports these critical pieces of the country’s energy puzzle and recognizes their significance in strengthening the nation’s energy security,” said Christine Hansen, IOGCC executive director.

The report states that it recommends the support of regulatory streamlining and research and development programs for marginal wells. These wells, which produce 17 percent of oil and 9 percent of natural gas produced onshore in the United States, are oftentimes run by small, independent producers who do not have the means to conduct their own research.

In addition, the report highlights the personnel shortages troubling the energy industry – an issue the IOGCC has worked to alleviate under North Dakota Gov. John Hoeven’s leadership. The report suggests that the U.S. government and the energy industry should work actively to renew the workforce through education, recruitment, development and retention.

More information about marginal wells and the energy workforce can be found in the IOGCC publications “Marginal Wells: Fuel for Economic Growth” and “Petroleum Professionals: A Follow Up Report” at http://www.iogcc.state.ok.us/news_pubs.aspx.

The IOGCC is a multi-state government agency that promotes the conservation and efficient recovery of domestic oil and natural gas resources while protecting health, safety and the environment. Established by the charter member states’ governors in 1935, it is the oldest, largest, and most effective interstate compact in the nation.