Current Oil & Gas News


UPDATED 6/15/2020 – SITLA has made the decision to defer all Oil/Gas & Minerals Competitive Leasing until October, due to continued industry effects from the COVID-19 pandemic. We extend our gratitude to all stakeholders and wish everyone the best during these challenging times. We look forward to working with you over the coming days and remain available for your questions. Stay safe! – SITLA O/G & Minerals Team

 

COVID-19 BOARD POLICY

Utah oil and gas lessees are facing severe economic stress caused by a demand destruction of roughly 30% and 60% drop in oil price. To support lessees
with future recovery planning and help secure stronger revenues to the trust, the following terms will be granted on a temporary basis.

I. Oil and Gas lessees will be allowed to continuously shut-in oil production for a period
of up to 180 days, beginning May I, 2020. Diligent operations and paying quantities
provisions on oil production are waived during the 180 days.

2. Oil and Gas leases in primary term or extended primary term are granted an automatic
180-day extension on normal term expirations.

3. Late fees on rentals and minimum royalty payments are waived for 180 days,
beginning May 1, 2020. This does not relieve lessees of the duty to pay royalty on
production timely, nor remove interest due on late royalty payments.

4. Additional relief will be considered on a case by case basis, upon written request, when
economic support can justify the prevention of waste and value in revenue generation
during the period of market uncertainty.

 

Current Activities

Important Oil & Gas Information

Additional Resources

 

PLEASE NOTE:

As of July 1, 2019, our fee schedule has been updated affecting all assignment fees except for assignment of overriding royalty interest.

As of January 1, 2018, all active oil and gas lease files are available electronically through the Contract Module on the Land & Lease Records page of this website (can also access via the SITLA Public Room computer monitors). Paper copies are no longer available.