Take Action: Trading Irregularities

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Domestic Energy Producers Alliance

Make your voice count.

If your company was impacted by the trading irregularities on April 20, 2020, join us in demanding an immediate investigation.

We are asking that the Commodities Futures Trading Commission (CFTC) begin an investigation without delay of the WTI crude oil futures traded on the Chicago Mercantile Exchange (CME). The investigation needs to include the possibility of market manipulation, failed processes and systems or computer programing errors in the WTI prompt month of May 20 and oil contract futures on the CME. This can never be allowed to happen again.

Steps you can take now.

  1. File a complaint with the CME on behalf of your company.
  1. Reach out to the CFTC and ask them to investigate the CME.

We want to hear your story.

Additionally, we would appreciate hearing your personal stories about how you/your company have been impacted by the price crash and crude oil trading below $0. This includes job losses, layoffs, furloughs, budget cuts, amount of shut-in production, etc. Maintaining your anonymity, it is so important we have the statistics and data to share with policymakers so they understand the real-life impact this has had on our industry.

 

Click here to download a sample letter to CTCF Chairman Talbot

IOGA Letter to Illinois Department of Natural Resources

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IOGA sent the following letter to Daniel Brennan and Ernest Kierbach at the Illinois Department of Natural Resources Office of Oil & Gas Resource Management. The letter expresses IOGA’s concern about low oil prices and requests that the IDNR consider a moratorium on the issuance of NNCs and NOVs.

Read the full letter here.

Daniel Brennan responded to IOGA following our letter. His response said the IDNR’s Office Oil and Gas Resource Management has instituted the following changes.

“As of April 1, 2020, for any matter that results in the issuance of a NNC, the permittee with be automatically granted an extension of the maximum time allowed to return the well, facility or site to compliance. Additionally, the Office is reviewing all relevant sections of the Illinois Oil and Gas Act (225 ILCS 725 et al.) and Illinois Administrative Code (62 Ill.Adm.Code 240 et al.) to determine how best to address all non-emergency violations.”

Read the full letter here.

IDNR Report April 17, 2020

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Active wells (does not include TA wells)

Production                 21,262

Injection                       6,343

Total                            27,605

 

TA wells

Production                3,080

Injection                      1,259

Total                             4,339

 

Wells in Plugging & Restoration Fund

Production                 3,080

Injection                     1,259

Total                           4,339

 

Permit Activity:

Production well permits issued YTD – 71

UIC well permits issued YTD – 56

Other permits (Waste Hauler, etc.) issued YTD – 81

 

Production well applications since September 1, 2014

Received – 2,224

Issued or denied – 2,168

 

UIC well applications since September 1, 2014

Received – 1,108

Issued or denied – 1,006

 

Wells plugged

Production wells YTD – 36

Injection wells YTD – 9

Production wells re-activated YTD – 2

 

Transfer requests YTD – 26 wells

Illinois House & Senate Working Groups

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Dan Reitz | IOGA Lobbyist

The Illinois House and Senate are currently working from home. They are both planning on using working groups to formulate a plan of action in these uncertain times.

Working groups have been established on a range of topics to evaluate the items necessary to deal with the ongoing coronavirus, and to be able to act once legislators can reconvene in Springfield.

Legislators are meeting to determine what legislation is deemed essential from these working groups and to formulate a plan to move legislation through both chambers and to the governor. They are also discussing plans in case we are still under a stay at home order through May.

The Senate has released its list of members on their working groups. The House will release their list soon.

Executive Order 18

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This order extends the Executive Orders issued by Governor Pritzker, in response to COVID-19, until April 30th. We are still listed as an essential industry and will continue to update the ever-changing state of our state.