Oil production from Interior Department managed leases topped one billion barrels
Feb. 11, 2020
Over one billion barrels of oil were produced in fiscal year 2019 from leases on US federal and American Indian-owned lands and federal offshore areas, the US Department of Interior said Feb. 11.
Over one billion barrels of oil were produced in fiscal year 2019 from leases on US federal and American Indian-owned lands and federal offshore areas, the US Department of Interior said Feb. 11. The milestone was crossed as production rose by 122.5 million barrels above that of fiscal 2018.
Total revenues collected from energy production on federal and American Indian lands and offshore areas in fiscal 2019 were some $12 billion. Oil royalty revenues collected by Interior from the areas it manages increased to $7.5 billion in 2019, up $1.3 billion or 21% from 2018. The 2019 fiscal year ended Sept. 30.
