IPAA sues to overturn oil royalty rule

04/17/2000
The Independent Petroleum Association of America has filed a lawsuit to overturn an oil royalty valuation rule that the US Minerals Management Service issued last month.The rule, which sets new systems for calculating the value of royalties owed the federal government, is due to take effect June 1 (OGJ, Mar. 20, 2000, p. 25). IPAA has not decided whether to ask the District of Columbia federal court for an injunction to block the rule from taking effect.The association's suit alleges the Department of the Interior rule would not pay producers for values that producers add downstream of the lease, such as aggregation of oil, marketing fees, storage, and transfer fees.The suit said the ...
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