The NewsRoom
Release: #
3802
Date: March 26, 2008

Amended Regulations Guide Production and Royalty Reporting

MMS Publishes Final Rule in Federal Register

DENVER – Amended regulations regarding the reporting of production and royalties on oil, gas, coal and geothermal resources produced on Federal and American Indian lands were published today in the Federal Register.

The amended regulations, published by the Department of the Interior’s Minerals Management Service (MMS), are designed to align the rules with current MMS business practices. These amendments reflect changes that were originally implemented as a result of a major re-engineering of MMS’s financial systems in 2001. That re-engineering, as well as other changes required by law, resulted in changes to, or elimination of, some forms and requirements. The amended regulations published today align the regulations with current reporting requirements.

Among other provisions, the amendments align the regulations with updated reporting forms; eliminate references to certain report forms and codes that are no longer applicable; move up the due date for production reports submitted electronically; update certain references; clarify the requirement for reporting production inventory; eliminate references to some electronic reporting options that no longer exist; and clarify the reporting requirement for taxpayer identification numbers.

The amended regulations will become effective in 30 days. The Federal Register Notice can be accessed via the web at: www.mrm.mms.gov.

Contact:
   Patrick Etchart 
303-231-3162

MMS: Securing Ocean Energy & Economic Value for America
U.S. Department of the Interior


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Last Updated: 05/27/2008, 03:32 PM Central Time

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