NTL-5 Gas Royalty Act of 1987. Senate, One Hundredth Congress, First Session, December 4, 1987

Book · Thu Jan 01 04:00:00 EST 1987

OSTI ID:5451047

H.R. 3479, as amended and recommended by the Committee, would provide clarification regarding the royalty payments owed under Federal onshore and Indian oil and gas leases for certain gas production. The bill would: (1) apply to that gas production from Federal onshore or Indian oil and gas leases during the period from January 1, 1982, through July 31, 1986, which is within the coverage of section I.A.2 or II.A.2 of Notice to Lessees and Operators of Federal and Indian Onshore Oil and Gas Leases No. 5 (NTL-5) and for which the lessee provides certain documentation of price received; (2) provide that royalties for such gas production shall be determined in accordance with lease terms and applicable regulations; (3) provide for refunds not to exceed a total of $2 million from future Federal mineral receipts for royalties previously overpaid; (4) require a case-by-case determination of royalties payable; and (5) provide for certain procedures to facilitate implementation.

• OSTI ID: 5451047
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
03 NATURAL GAS
031000* -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294003 -- Energy Planning & Policy-- Natural Gas
GEOLOGIC DEPOSITS
INCOME
INDIAN RESERVATIONS
LEASES
LEGISLATIVE TEXT
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NORTH AMERICA
ONSHORE SITES
PETROLEUM DEPOSITS
PRODUCTION
RESOURCES
ROYALTIES
USA