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DOI/ONRR | RIN: 1012-AA15 | Publication ID: Fall 2015 |
Title: Indian Oil Valuation | |
Abstract:
The Office of Natural Resources Revenue's rule is the result of a negotiated rulemaking with the Tribes and addresses concerns with the major portion provision of the Indian oil and gas regulations. Generally, Indian leases have a provision that establishes the value of their oil at the highest price paid for a major portion of production of like-quality oil from the same field or area. This rule provides clarity and certainty while assuring that Tribes and allottees receive, in a timely fashion, royalties that satisfy the major portion provision contained in most Indian leases. |
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Agency: Department of the Interior(DOI) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 30 CFR 1206, subpart B (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 5 U.S.C. 301 et seq. 25 U.S.C. 396 25 U.S.C. 2107 30 U.S.C. 189 30 U.S.C. 190 30 U.S.C. 359 30 U.S.C. 1023 30 U.S.C. 1751(a) 43 U.S.C. 1334 43 U.S.C. 1801 et seq. 44 U.S.C. 3506(a) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Latell Armand Southall Regulatory Specialist Department of the Interior Office of Natural Resources Revenue MS 64400B, P.O. Box 25165, Denver, CO 80225-0165 Phone:303 231-3221 Fax:303 231-3362 Email: armand.southall@onrr.gov |