Download or read book Oil and Gas Royalties on Non federal Lands written by and published by . This book was released on 1993 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil and Gas Royalties on Non Federal Lands written by Rocky Mountain Mineral Law Foundation and published by . This book was released on 1993 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil and Gas Royalties written by Frank W. Rusco and published by DIANE Publishing. This book was released on 2009-02 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In FY 2007, domestic and foreign co. received over $75 billion from the sale of oil and gas produced from fed. lands and waters. These co. paid the fed. gov¿t. $9 billion in royalties for this dev¿t. The gov¿t. also collects other revenues, and the sum of all revenues received is referred to as the ¿gov¿t. take (GT).¿ The terms and conditions under which the gov¿t. collects these revenues are referred to as the ¿oil and gas fiscal system (OGFS).¿ This report: (1) evaluates GT and the attractiveness for investors of the fed. oil and gas fiscal system; (2) evaluates how the absence of flexibility in this system has led to large foregone revenues; and (3) assesses what has been done to monitor the performance and appropriateness of the OGFS. Illustrations.
Download or read book Collection and Disposition of Federal Oil and Gas Royalties Taken In kind written by United States. Congress. House. Committee on Resources. Subcommittee on Energy and Mineral Resources and published by . This book was released on 2002 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil and Gas Royalties written by Mark Gaffigan and published by DIANE Publishing. This book was released on 2007-12 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid rising oil & gas prices & reports of record oil industry profits, a number of gov'ts., such as the State of Alaska, have taken steps to reevaluate &, in some cases, increase the share of oil & gas revenues they receive for the rights to develop oil & gas on their lands & waters. In FY 2006, oil & gas co. received over $77 billion from the sale of oil & gas produced from fed. lands & waters, & the Dept. of the Interior reported that these co. paid the fed. gov¿t. $10 billion in oil & gas royalties. This report documents the U.S. gov¿ts. take & implications assoc. with increasing royalty rates. It discusses: the U.S. gov¿ts. take relative to that of other gov¿t. resource owners; & the potential revenue implications of raising royalty rates on fed. oil & gas leases going forward. Illus.
Download or read book Reforming the Federal Royalty Program for Oil and Gas written by and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Natural Resources Code written by Texas and published by . This book was released on 1978 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Development of Oil and Gas on the Public Domain written by United States. Congress. Senate. Committee on Public Lands and Surveys and published by . This book was released on 1945 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Royalities at Risk in the Development of the Nation s Natural Resources written by Thomas Marinelli and published by Nova Science Publishers. This book was released on 2010-01-25 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: In addition to having a low government take, the deep water Gulf of Mexico and other U.S. regions are attractive targets for investment because they have large remaining oil and gas reserves and the U.S. is generally a good place to do business compared to many other countries with comparable oil and gas resources. Multiple studies completed as early as 1994 and as recently as June 2007 indicate that the U.S. government take in the Gulf of Mexico is lower than that of most other fiscal systems. For example, data GAO evaluated from a June 2007 industry consulting firm report indicated that the government take in the deep water U.S. Gulf of Mexico ranked 93rd lowest of 104 oil and gas fiscal systems evaluated. Generally, other measures indicate that the United States is an attractive target for oil and gas investment. The lack of price flexibility in royalty rates -- automatic adjustment of these rates to changes in oil and gas prices or other market conditions -- and the inability to change fiscal terms on existing leases have put pressure on Interior and the Congress to change royalty rates in the past on an ad hoc basis with consequences that could amount to billions of dollars of foregone revenue. For example, royalty relief granted on leases issued in the deep water areas of the Gulf of Mexico between 1996 and 2000 -- a period when oil and gas prices and industry profits were much lower than they are today -- could cost the federal government between $21 billion and $53 billion, depending on the outcome of ongoing litigation challenging the authority of Interior to place price thresholds that would remove the royalty relief offered on certain leases. Further, royalty rate increases in 2007 are expected to generate modest increases in federal revenues from future leases offered in the Gulf of Mexico. However, in choosing to increase royalty rates, Interior did not evaluate the entire oil and gas fiscal system to determine whether or not these increases strike the proper balance between the attractiveness of federal leases for investment and appropriate returns to the federal government for oil and gas resources. Interior does not routinely evaluate the federal oil and gas fiscal system, monitor what other governments or resource owners are receiving for their energy resources, or evaluate and compare the attractiveness of federal lands and waters for oil and gas investment with that of other oil and gas regions. As a result, Interior cannot assess whether or not there is a proper balance between the attractiveness of federal leases for investment and appropriate returns to the federal government for oil and gas resources. Specifically, Interior does not have procedures in place for evaluating the ranking of (1) the federal oil and gas fiscal system or (2) industry rates of return on federal leases against other resource owners. Interior also does not have the authority to alter tax components of the oil and gas fiscal system. All these factors are essential to inform decisions about whether or how to alter the federal oil and gas fiscal system in response to changing market conditions.
Download or read book Oil Gas and Coal Royalties Raising Federal Rates Could Decrease Production on Federal Lands But Increase Federal Revenue written by United States. Government Accountability Office and published by . This book was released on 2017 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: In fiscal year 2016, the federal government collected about $2.5 billion in revenue associated with onshore oil, gas, and coal production on federal lands, including about $2 billion from royalties. Federal royalty rates sometimes differ from the rates states charge for production on state lands. For example, state oil and gas rates tend to be higher than federal royalty rates and state coal rates are generally the same as federal rates in the six states representing more than 90 percent of federal oil, gas, and coal production in fiscal year 2015. This report describes what is known about how raising federal royalty rates would affect (1) oil, gas, and coal production on federal lands and (2) the federal revenue associated with such production. GAO is not making recommendations in this report.
Download or read book Oversight of the Minerals Management Service s Royalty Valuation Program written by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Management, Information, and Technology and published by . This book was released on 2000 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Can the United States Increase Oil Royalties written by United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on Government Management, Information, and Technology and published by . This book was released on 1997 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming the Federal Royalty Program For Oil and Gas written by and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government collects royalties from businesses that hold leases to produce oil and gas on public lands. The petroleum industry has proposed several changes to the way the government manages the collection of those royalties. In addition, the government recently revised its rule for how some of the royalties are valued. Even if implemented fully, those various reforms would be unlikely to have much effect on the volume of oil and gas produced from federal leases both because the scope of the changes is small and because the level of U.S. oil and gas production is not particularly responsive to changes in prices and costs. As a result, it is likely that any gain to the petroleum industry from such reforms would simply reflect a loss of the same amount to the federal budget, and vice versa. Businesses that lease the rights to develop petroleum resources commonly pay their federal royalties as a share of the market value of the oil and gas one-eighth for production from most onshore federal lands and one-sixth from most offshore lands. In 1998, leaseholders paid a total of $3.3 billion in royalties for the right to remove federal oil and gas valued at $22.6 billion. Federal oil and gas account for 26 percent and 34 percent, respectively, of national production. For royalty purposes, the value of such oil or gas is measured as if the product were sold at the lease site (the property described in the lease contract), even though the actual sale may call for delivery away from the lease site and for enhancements to the quality of the product. Those actions add to the product's value, but they also entail costs to the producers. Disputes often arise between lessees and the government about who should shoulder which costs and what the true value of the oil or gas is back at the lease site.
Download or read book Federal Oil Valuation Efforts to Revise Regulations and an Analysis of Royalties in Kind written by and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In fiscal year 1997, the Department of the Interior's Minerais Management Service (MMs) collected about $4.1 billion in royalties from oil and gas leases on federal lands. By law, the states in which these leases are located receive a share of the royalties, which are calculated as a percentage of the value of the oil or gas that is produced. The value of much of the oil from federal leases has been based on posted prices. However, recent evidence indicates that oil is often sold for more than the posted prices, suggesting that the value of the oil and federal royalties should both be higher. On the basis of this evidence, in 1995 MMS began revising its regulations for valuing oil from federal leases. In February 1998 MMS issued its most recent revision. The proposed regulations would reduce the use of posted prices to value much of the oil and would instead generally require that other, and often higher, prices be used. Although states that receive distributions of these royalties generally support the proposed regulations, oil industry representatives generally oppose them, believing that oil companies should not pay royalties on higher prices. As an alternative, the oil industry has suggested that MMS be required to accept, as the federal government's royalties, a percentage of the actual oil and gas produced from federal leases (known as royalties in kind), rather than cash. MMS would then sell this oil and gas to generate revenues. Legislation mandating that MMS accept federal oil and gas royalties in kind has been introduced in both the U.S. Senate and the House of Representatives. You asked us to address the following: (1) the information used by MMS to justify the need for revising its oil valuation regulations; (2) how MMS has addressed concerns expressed by the oil industry and states in developing these regulations; and (3) the feasibility of the federal government's taking its oil and gas royalties in kind.
Download or read book Oil and Gas Leasing on Federal Lands written by Lewis Edwin Hoffman and published by . This book was released on 1957 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Development of Oil and Gas on the Public Domain written by United States. Congress. House. Committee on Public Lands and published by . This book was released on 1946 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Development of Oil and Gas on the Public Domain written by United States. Congress. Senate. Committee on Public Lands and Surveys and published by . This book was released on 1945 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: