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certain report forms and codes that are no longer applicable; move up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.