MMS plans Gulf of Mexico test of royalty-in-kind

10/18/1999
The US Minerals Management Service plans a third royalty-in-kind (RIK) pilot program, using a competitive auction to take up to 260 MMbtu/day of gas from Gulf of Mexico federal leases.Pilot projects are under way in Wyoming and off Texas. The third pilot will involve federal properties off western Louisiana and is expected to include a large number of operators, lessees, and potential purchasers.MMS Director Walt Rosenbusch said, "I believe RIK has advantages for both the federal government and industry. Our goal is to realize the potential for revenue enhancement as well as increase administrative efficiency."The pilot program The Wyoming pilot is testing competitive sales of crude oil a...
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