Burton outlines possible past lease royalty terms

10/02/2006
Holders of deepwater Gulf of Mexico leases issued in 1998 and 1999 probably would be required to pay royalties starting with the date they agreed to amended terms, US Minerals Management Service Director Johnnie Burton said.“We’re still talking, so I’m a little nervous getting too specific,” she said during an event sponsored by Platts. But, she added, collecting royalties from a period before a producer agreed to accept previously absent price thresholds would be legally difficult.Burton said she also has ordered MMS employees to fully document steps taken to reach decisions with e-mails and written correspondence. The lack of such documentation in the 1998-99 per...
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