Naval Petroleum Reserve Number 1 financial statements September 30, 1997 and 1996 (with independent auditors` report thereon)
The Naval Petroleum and Oil Shale Reserves (NPOSR) produces crude oil and associated hydrocarbons from the Naval Petroleum Reserve No. 1 (NPR-1) in a manner to achieve the greatest value and benefits to the US taxpayer. As required by the 1996 National Defense Authorization Act, the Department of Energy offered NPR-1 for sale during FY 1997. DOE structured the sale so as to offer two types of ownership segments: one operatorship segment, consisting of 74% of the US interest in NPR-1, and 13 nonoperating segments, each consisting of 2% of the US interest. Potential purchasers could bid on one, some, or all of the segments. If a single purchaser wanted to buy all of the Government`s interest, then its bid would have to exceed the total of the highest bids for all of the individual segments. Bids were due October 1, 1997, at which time DOE received 22 bids from 15 parties acting alone or in concert. The report and management letter present the results of the independent certified public accountants` audits of the Department of Energy`s Naval Petroleum Reserve Number 1 (NPR-1) financial statements as of, and for the years ended, September 30, 1997 and 1996.
- Research Organization:
- KPMG Peat Marwick LLP, Salt Lake City, UT (United States)
- Sponsoring Organization:
- USDOE Office of Inspector General, Washington, DC (United States)
- OSTI ID:
- 578567
- Report Number(s):
- WR-FC-98-02; ON: TI98004075; NC: NONE; TRN: AHC29806%%69
- Resource Relation:
- Other Information: PBD: [1997]
- Country of Publication:
- United States
- Language:
- English
Similar Records
US Department of Energy Naval petroleum reserve number 1. Financial statement audit
Naval Petroleum and Oil Shale Reserves. Annual report of operations, fiscal year 1985