Natural gas product valuation - NTL-5. Hearing before the Subcommittee on Mineral Resources Development and Production of the Committee on Energy and Natural Resources, United States Senate, One Hundredth Congress, First Session, July 10, 1987

Book · Fri Jan 01 04:00:00 EST 1988

OSTI ID:7180731

NTL-5 simply means Notice to Lessees-5, which are regulations, and they relate to how you determine the value of natural gas production from Federal and Indian onshore leases. And in determining how you arrive at value, then the percentages for royalty for the owners is applied. NTL-5 was originally issued in 1977 and required a substantial amount of gas to be valued for royalty purposes at the Federal Energy Regulatory Commission ceiling price. At the start this 1980 were down. But as the market price fell, that didn't mean that the FERC ceiling price came down. Unfortunately, since those regulations were issued in 1977, there hasn't been any adjustment. The incongruities in this issue are the focus of this hearing, as the committee ponders changes in regulations, or perhaps additional legislation, to alleviate the problem. Seven witnesses testified, including officials of the Department of the Interior; Ute Indian Tribe; Chandler and Associates, Denver, CO; Rocky Mountain Oil and Gas Ass'n.; Shoshone Business Council, Fort Washaki, WY; and Independent Petroleum Ass'n. of Mountain States.

• OSTI ID: 7180731
• Country of Publication: United States
• Language: English

Related Subjects

03 NATURAL GAS
031000* -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294003 -- Energy Planning & Policy-- Natural Gas
DOCUMENT TYPES
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
HEARINGS
INCOME
LEASES
LEGISLATIVE TEXT
MINERAL RESOURCES
NATIONAL ORGANIZATIONS
NATURAL GAS
NATURAL GAS DEPOSITS
PRICES
PRODUCTION
REGULATIONS
RESOURCES
ROYALTIES
US DOE
US FERC
US ORGANIZATIONS