U.S. Department of the Interior
Minerals Management Service
Office of Communications

NEWS RELEASE

        The U.S. Department of the Interior’s Minerals Management Service (MMS) announced in today’s Federal Register (65 FR 10436) they are extending the comment period for the supplementary proposed Indian oil valuation rule from March 6, 2000, to March 20, 2000. The proposed rule would amend the royalty valuation regulations for crude oil produced from Indian leases.

        In a February 18, 2000, Federal Register notice (65 FR 8442), MMS opened a 30-day comment period until March 20, 2000, to allow the public to comment on newly identified information collection requirements concerning this rulemaking. Accordingly, the MMS is granting a 14-day extension to the comment period for the supplementary proposed rule to match the March 20, 2000 close of the comment period for the new information collection requirements.

        MMS is the federal agency that manages the Nation’s natural gas, oil and other mineral resources on the Outer Continental Shelf, and collects, accounts for and disburses about $4 billion yearly in revenues from offshore federal mineral leases and from onshore mineral leases on federal and Indian lands.

-MMS-

MMS Internet website address: http://www.mms.gov
24 hour Fax-on-Demand Service:(202) 219-1703