BLM PLANS TO CUT ROYALTY RATES ON HEAVY OIL

04/03/1995
The U.S. Bureau of Land Management has proposed a rule to allow sliding scale royalties for heavy oil less than 20 gravity produced on federal leases rather than the straight 12.5%. (15841 bytes) BLM said, "This action is being taken to encourage operators of federal heavy oil leases to place marginal or uneconomical shut-in oil wells back in production, provide an economic incentive to implement enhanced oil recovery projects, and delay the plugging of these wells until the maximum amount of economically recoverable oil can be obtained from the reservoir or field." It said the action should result in substantial additional revenue for s...
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