Federal Offshore Oil

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  1. MMS, Louisiana agree on federal offshore oil , gas royalties-in-kind

    By OGJ editors HOUSTON, Mar. 21 -- Louisiana and the US Department of the Interior's Minerals Management Service signed a memorandum of understanding Thursday, jointly agreeing to develop and implement a royalty-in-kind (RIK) pilot program for oil and gas leases in the federal 8(g) zone—the first 3 miles of federal lands beyond the state's 3 mile limit. Under the MOU, Louisiana also could include state oil and gas leases in the RIK pilot program. MMS and Louisiana expect the pilot program to be in place with the first in-kind royalties to be collected Oct. 1. Louisiana currently receives 27% of the revenues associated with federal leases located in the 8(g) area. In 2002, it received $12.6 million as its share of these leases. Under Outer Continental Shelf Lands Act oil and gas lease terms, royalty payments can be collected either in cash or in-kind. In the development and implementation of the RIK pilot program, MMS and Louisiana seek to "increase revenues, reduce conflict over the proper payment of royalties under lease terms, and reduce the administrative cost of managing federal and state royalty assets," MMS said. "The RIK approach has been demonstrated to be an effective and efficient method of collecting royalties," said MMS Deputy Director Walter Cruickshank, who signed the agreement for MMS at a meeting of the Royalty Policy Committee in New Orleans. Jack Caldwell, Secretary of the Louisiana Department of Natural Resources, represented Louisiana. "We are pleased to enter into this partnership with the State of Louisiana and look forward to this new opportunity to test the use of RIK," added Cruickshank. Nationally, through the RIK program, MMS receives more than 160,000 b/d of crude oil and 400 MMcfd of natural gas in-kind.

    Online Articles

    Online Articles

    Fri, 21 Mar 2003

  2. Nelson vows to block Murkowski's stand-alone crude oil bill

    The US Senate Energy and Natural Resources Committee approved Chair Lisa Murkowski's (R-Alas.) bill to end the ban on exporting US-produced oil. But Sen. Bill Nelson (D-Fla.) immediately said he would try to block it procedurally because of the measure's provision expanding the number of coastal states sharing federal offshore oil and gas revenue.

    Magazine Articles

    Magazine Articles

    Mon, 10 Aug 2015

  3. Offshore oil planning requires more science, spill commission told

    More robust science is clearly needed in federal offshore oil and gas planning, several witnesses told US President Barack Obama’s independent commission on the Gulf of Mexico oil spill and offshore drilling on Aug. 25.

    Online Articles

    Online Articles

    Thu, 26 Aug 2010

  4. Offshore oil planning requires more science, spill commission told

    More robust science is clearly needed in federal offshore oil and gas planning, several witnesses told US President Barack Obama's independent commission on the Gulf of Mexico oil spill and offshore drilling on Aug. 25.

    Magazine Articles

    Magazine Articles

    Mon, 6 Sep 2010

  1. Senate panel raises questions in call for higher liability cap

    Online Articles

    Online Articles

    Wed, 26 May 2010

  2. US agencies treated spill as catastrophe from outset, panel told

    US departments and agencies responding to the major oil spill in the Gulf of Mexico treated it as a catastrophe from the beginning, officials told the independent commission established by US President Barack Obama to investigate the event and its implications on federal offshore oil and gas ...

    Magazine Articles

    Magazine Articles

    Mon, 4 Oct 2010

  3. US agencies treated spill as catastrophe from outset, panel told

    US departments and agencies responding to the major oil spill in the Gulf of Mexico treated it as a catastrophe from the beginning, officials told the independent commission established by US President Barack Obama to investigate the event and its implications on federal offshore oil and gas ...

    Online Articles

    Online Articles

    Tue, 28 Sep 2010

  4. Where’s the money worry in US bans on OCS leasing?

    The US Congress deserves credit for its concern about those federal offshore oil and gas leases that lack price thresholds for deepwater royalty relief.

    Magazine Articles

    Magazine Articles

    Mon, 9 Oct 2006

  5. US senators compromise on conservation funding bill

    US Sens. Frank Murkowski (R-Alas.) and Jeff Bingaman (D-NM) said Friday they have agreed on a Conservation and Reinvestment Act (CARA), ensuring the Senate energy committee will approve the bill at a markup July 18-19. The bill would earmark $3 billion/year of federal offshore oil revenues, which ...

    Online Articles

    Online Articles

    Mon, 17 Jul 2000

  6. Where's the money worry in US bans on OCS leasing?

    The US Congress deserves credit for its concern about those federal offshore oil and gas leases that lack price thresholds for deepwater royalty relief.

    Online Articles

    Online Articles

    Fri, 29 Sep 2006

  7. PROBLEMS FOR THE NEW MMS CHIEF

    Scott Sewell should not lose sleep if the greetings he receives in debut appearances as U.S. Minerals Management Service director seem muted. His audience has shrunk. There aren't as many people interested in federal offshore oil and gas leasing as there were to greet his predecessors. That's what ...

    Magazine Articles

    Magazine Articles

    Mon, 16 Sep 1991

  8. Markey panel to study possible oil leasing impacts on polar bears

    House Energy Independence and Global Warming Select Committee Chairman Edward J. Markey (D-Mass.) wants to examine possible impacts of federal offshore oil leasing on polar bear populations.

    Online Articles

    Online Articles

    Fri, 11 Jan 2008

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