MMS Proposes Changes To Regulations For Valuing Federal Oil
|Wednesday, August 20, 2003
The Minerals Management Service has published a proposed rule for valuing oil produced on federal lands.
"The existing rule was published in 2000, and though it does provide the federal government and lessees with a fair return on federal resources, our three years of experience with the rule prompted us to review some technical issues such as transportation costs and price indices used in valuing oil from federal leases," said MMS Director Johnnie Burton.
During four public workshops in March 2003, MMS gathered information and comments used to develop the following proposed changes to the rule:
The proposed rule will have a 30-day comment period ending on September 19, 2003. MMS hopes to issue the final rule in October 2003. The proposed rule is available online at: