Federal officials updated three rules dealing with oil and gas royalty payments on Monday, a move they say will allow a more thorough accounting of fuel produced on federal land.
The rules rewritten on Monday aim to update 25-year-old accounting practices governing royalty rates for oil and gas drillers on federal and Indian land. The rules establish minimum standards for the measurement of oil and gas and deal with how companies report production to the federal government in order to account for theft and loss. Continue reading “Feds update oil, gas royalty system for federal land”
