|
July 20, 2000
The U.S. Department of the Interior's Minerals Management Service (MMS) and the State
of Wyoming today announced the offering of approximately 6,600 barrels of royalty crude
oil per day from federal and State properties. This fifth offering continues the ongoing
Royalty In Kind (RIK) program partnership between MMS and Wyoming. The State and MMS
believe that taking oil royalties as a share of production from the properties offered in
the Invitation for Bid (IFB) is a viable alternative to the usual practice of collecting
oil royalties in value for sale of the production. Both agencies will continue to monitor
the effectiveness of the RIK approach to taking crude oil royalties in Wyoming.
The most recent IFB, No. 31053, offered 4,900 barrels per day of crude oil for delivery
to purchasers for production months April 2000 through September 2000.
The current sale, No. 1435-02-00-RP-40329, will involve about 6,600 barrels of royalty production
from 380 federal and State properties located in the Bighorn and Powder River Basins of
Wyoming. Bids will be accepted on specific pipeline subgroups and/or entire packages of
Wyoming sweet, sour, and asphaltic sour crude. Delivery of actual production will begin on
October 1, 2000, and continue for six months.
Specific information regarding the sale will be available in an Invitation for Bid
(IFB) No. 1435-02-00-RP-40329, which is scheduled to be issued around July 25, 2000,
and located on the MMS website at http://www.mrm.mms.gov/whatsnew.htm. For additional
information contact MMS’s Todd Leneau at (303)275-7385 or Wyoming’s Harold Kemp
at (307)777-6643.
MMS is the federal agency that manages the Nation's natural gas, oil and other mineral
resources on the Outer Continental Shelf; and annually collects, accounts for, and
disburses about $4 billion in revenues from federal offshore mineral leases and from
onshore mineral leases on federal and Indian lands.
Privacy |
Disclaimers |
Accessibility |
Topic Index | FOIA
Last Updated:
11/06/2008,
09:32:29 AM
|
