Reforming Oil & Gas Valuation Regulations

Law360, New York (July 13, 2011, 2:26 PM EDT) -- The U.S. Department of the Interior's Office of Natural Resources Revenue (ONRR) is requesting public comments through July 28, 2011, on potentially sweeping changes in the way oil and gas is valued for royalty purposes. Particularly open to change are the ONRR's gas valuation regulations in place since 1988.

For years, industry had urged Interior to take more of its oil and gas royalties in kind and sell the production on the open market, thereby eliminating costly disputes over how production is valued. But after a...
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