MIL-OSI USA: H.R. 7377, Royalty Resiliency Act

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Source: US Congressional Budget Office

H.R. 7377 would amend the Federal Oil and Gas Royalty Management Act of 1982 to change how leaseholders that are applying to jointly develop federal land allocate royalty payments before the Department of the Interior (DOI) approves the final allocations.

Oil and gas leaseholders can enter into joint agreements to develop leased land and drill wells in areas where they could not independently comply with certain regulations. Such a joint application includes the proposed apportionment of production and royalties to be paid by each producer.