MMS looks to expand RIK program in selected markets

08/02/2004
The US Department of the Interior's Minerals Management Service July 12 released a 5 year royalty management plan that expands federal royalty-in-kind (RIK) programs but does not replace traditional cash royalty collection.Industry officials endorsed the proposal. An American Petroleum Institute spokesperson called the MMS policy document "a conservative business plan" that expands RIK only when it makes economic sense.API said MMS's policy would mean that the government gets its money faster while industry spends less time and effort on litigation and administrative costs. API also stressed it fully expects MMS to continue to audit royalty accounts but if the lease in question is...
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