MMS proposes gas valuations changes; avoids overhaul

The US Department of the Interior's Minerals Management Service is giving industry and other interested stakeholders until Sept. 21 to offer comments on what industry officials call a "modest" plan to update gas valuation rules.As producers anticipated, the plan does not make wholesale changes; rather, MMS says it wants to tweak the rules to provide more clarity to leaseholders, especially on what transportation costs from the lease can and cannot be deducted. The MMS plan also is designed to conform with recent royalty court decisions (OGJ Online, May 7, 2004).MMS held a series of public workshops during April-May 2003 to gather feedback on possible revisions to the 16-year-old rule ...

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