1 super rac february 24-25, 2009. items to be discussed coal program oil shale 2
DESCRIPTION
3 COAL 9 mines 7 Underground 2 Surface Production ≈ 22.8 million tons Revenue ≈ $55.38 millionTRANSCRIPT
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Super RAC
February 24-25, 2009
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Items to be Discussed
Coal Program
Oil Shale
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COAL• 9 mines
• 7 Underground• 2 Surface
• Production ≈ 22.8 million tons
• Revenue ≈ $55.38 million
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Recent Coal Activities
• New Elk Coal – near Trinidad late 09• CAM, Red Cliff – adj McClane Canyon late 09• Oxbow Mining – Elk Creek Mine expansion ?
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LBA
Modifications• Mountain Coal – modify 2 leases to access bypass coal
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Coal Mine Methane
• Vessels decision
• West Elk Coal Lease Addendum
• West Elk Coal – R2P2
• Other Leases ?5
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Oil Shale
• Est. 800 billion barrels of oil• Approximately enough to meet US demand
for oil at current levels for next 100 years
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Oil Shale
• PEIS - (ROD) published 11/28/08
• Final Regulations published 11/18/08
• Law Suits - currently responding to FOIA requests concerning the PEIS & the Regs
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Oil Shale Regs
• 20 year lease• Royalty 5% - 5 yr 1%/year up to 12½%• NEPA
– at prior to lease sale– at mine plan approval• Diligence provisions w/penalties• Bonding to cover the cost of reclamation
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Oil Shale RDD #1
• Energy Policy Act of 2005• 6 RDD leases
– 5 insitu Colorado– 1 underground w/surface retort Utah• Shell - AMSOL – Chevron• 160 acres Preference Right to additional
4,960• $2,000 application fee
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Oil Shale RDD #1 Lease addendum
• Addendum January 18, 2009• Sect 1 - if no existing regulations
companies agree to use the regs published Nov 18, 2008 when converting
• Sect 2 – if new regs (not 11/18/08) can choose which regulations to use at conversion
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Oil Shale RDD #2 ?
• January 15, 2009• 640 acres• 10 years• No preference to larger lease• $4,000 application fee
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