Royalty relief extension vital for continued deepwater development

Andrew B. DermanThompson & Knight LLPDallasDaniel JohnstonDaniel Johnston & Co. Inc.Hancock, NHWithout the deepwater royalty relief program, the US risks suffocating its most promising oil and gas province at the very time it is struggling with what the nation's policy should be with regard to oil and gas.Our analysis indicates that if the royalty relief program is not extended, deepwater Gulf of Mexico economics might deter the industry from making the substantial investments required to develop this high-cost province with its highly sensitive risk-reward dynamics.Royalty reliefThe intent of the US deepwater royalty relief program was to stimulate exploration and development of deep...

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