Stay Connected

GAO says MMS may be forfeiting millions in RIK gas revenue

09/21/2009
By Nick Snow
The US Minerals Management Service may be forfeiting millions of dollars in natural gas royalties under its royalty-in-kind (RIK) program because it apparently isn't identifying and collecting on imbalances, the Government Accountability Office said.The MMS, part of the Department of the Interior, estimates that it is owed $21 million for past imbalances but says it lacks the information to calculate the full amount due, GAO said. "MMS does not have sufficient data to determine whether it received its full percentage of RIK gas," it added.GAO released the assessment 2 days before US House Natural Resources Committee hearings on legislation Chairman Nick J. Rahall (D-W.Va.) intro...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.