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01/07/2008
General Interest - Quick TakesMMS proposes OCS royalty relief amendmentsThe US Minerals Management Service proposed changes to its Outer Continental Shelf deepwater royalty relief regulations on Dec. 21 to conform to a 2004 federal court decision.A US Court of Appeals for the Fifth Circuit in a case involving Santa Fe Snyder Corp. found provisions of the US Department of the Interior agency’s interpreting Section 304 of the 1995 Deepwater Royalty Relief Act were contrary to the statute’s requirements, MMS said.MMS said that the court found that a lease issued under that section could not be excluded from royalty relief if it was part of a field that already was in production b...
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