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Sunday, August 9, 2020 | History

4 edition of Oversight of the Minerals Management Service"s royalty valuation program found in the catalog.

Oversight of the Minerals Management Service"s royalty valuation program

hearing before the Subcommittee on Government Management, Information, and Technology of the Committee on Government Reform, House of Representatives, One Hundred Sixth Congress, first session, May 19, 1999.

by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Management, Information, and Technology.

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  • 21 Currently reading

Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English

    Places:
  • United States.
    • Subjects:
    • United States. Minerals Management Service -- Management.,
    • Oil fields -- Valuation -- United States.

    • Classifications
      LC ClassificationsKF27 .G66293 1999zd
      The Physical Object
      Paginationiii, 197 p. :
      Number of Pages197
      ID Numbers
      Open LibraryOL6834127M
      ISBN 100160608414
      LC Control Number00329128
      OCLC/WorldCa45081703

      Indian Oil Valuation 30 CFR Part (Formerly AC24). Abstract: The Minerals Management Service (MMS) is amending the existing regulations regarding valuation, for royalty purposes, of oil produced from Indian leases. These amendments clarify and update the existing regulations. This rule is intended to bring added certainty to the valuation of oil produced from American Indian lands.   WASHINGTON, DC - Today, a change in the government’s rule for collecting royalties from oil companies producing oil on federal lands was finalized by the Department of the Interior’s Mineral Management Service (MMS). Rep. Carolyn Maloney (NY), who has urged MMS to be cautious with taxpayer money since the rule change was first discussed last year, today reacted with.

      WASHINGTON, DC--Congresswoman Carolyn B. Maloney (D-NY) announced the release of the Congressional report, “Crude Oil Valuation: The Ineffective Response of the Minerals Management Service.” The House Committee on Government Reform and Oversight issued this report as a follow-up to a hearing of the Subcommittee on Government Management. The Royalty-In-Kind program has been a blemish, in my view, on this Department, and it Environment, and Related Agencies, Minerals Management Service Oversight, th Cong., 1st sess U.S. Department of the Interior, Office of Inspector General, Evaluation Report: Minerals Management Service Royalty-In-Kind Oil Sales Process, Report No.

      Books: Articles: Forms & Model Contracts: Gower Federal Services Office of enforcement civil Federal and Indian Oil & Gas Royalty Valuation and Management. Chapters include: Legal foundation for federal and Indian royalty valuation and management; Around the regulations in 50 minutes – practical application of the federal and Indian. During the late 's and early 's, Moffat County sold most of these lands back to the public while retaining approximat acres of mineral rights, which are currently being managed through the Moffat County Natural Resources Department. Income from the County Mineral Program is distributed to the relevant taxing jurisdictions.


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Oversight of the Minerals Management Service"s royalty valuation program by United States. Congress. House. Committee on Government Reform. Subcommittee on Government Management, Information, and Technology. Download PDF EPUB FB2

Oversight of the Minerals Management Service's royalty valuation program: hearing before the Subcommittee on Government Management, Information, and Technology of the Committee on Government Reform, House of Representatives, One Hundred Sixth Congress, first session, (Book, ) [].

I commend the Department of Interior's Minerals Management Service's (MMS) efforts to clarify the royalty valuation language in the Final Proposed Rule.

We have come a long way. This Rule is a giant step for the taxpayer as it will largely prevent future underpayments of royalties.

David S. Guzy, ChiefRules & Publications StaffRoyalty Management ProgramMinerals Management ServicesP.O. BoxMS Denver, CO Attn: Further Supplementary Proposed Rulemaking Establishing Oil Value for Royalty Due on Federal LeasesDear Mr.

Guzy:We support finalizing Minerals Management Service's (MMS) proposed Oil Valuation Rule, and urge. Oversight of the Minerals Management Service's royalty valuation program: hearing before the Subcommittee on Government Management, Information, and Technology of the Committee on Government Reform, House of Representatives, One Hundred.

Minerals Management Service Royalty Management Program Audit Program. Sam Wilson, Federal and Indian Oil and Gas Royalty Valuation and Management () The Secretary of the Interior (Secretary) is authorized by the terms of Federal and Indian mineral leases and by the provisions of Federal law to conduct audits of revenues from Federal and.

Oversight of the Minerals Management Service's royalty valuation program: hearing before the Subcommittee on Government Management, Information, and Technology of the Committee on Government Reform, House of Representatives, One Hundred Sixth Congress, first session, by United States ().

The Minerals Management Service was created on Janu In JanuaryCongress passed the Federal Oil and Gas Royalty Management Act with the stated purpose.

To ensure that all oil and gas originated on the public lands and on the Outer Continental Shelf are properly accounted for under the direction of the Secretary of the Interior, and for other purposes. Methodologies in the valuation of mineral rights by E.V.

Lilford* and R.C.A. Minnitt† Synopsis A number of countries have introduced codes governing the valuation of mineral assets and securities. The African continent will follow suit in due course considering the importance of the global minerals industry as it relates to the attraction of.

Valuation of mineral properties at the exploration stage is an area where both valuators and users of valuations need to understand the challenges and uncertainties involved.

Sorting the wheat from the chaff can be challenging for non-technical readers of such valuation reports. BLM HandbooksThe Bureau of Land Management handbooks provide detailed instructions for implementing the policy and direction described in the BLM manual sections.

Handbooks provide specific detailed instructions, techniques, procedures, practices, and processes. Handbooks do not contain broad objectives, policies or assignment of responsibilities.

End Note. 1 Treasury Regulations (d) asserts that the income approach will not be used if the value of a mineral property can be determined using the cost-approach (under the asset approach) or the market approach. However, those circumstances are rare and not consistent with industry norms. The income approach is most often employed to estimate the fair market value of mineral.

S everal million Americans own oil and gas royalty interests, also known as producing mineral a variety of reasons, sometimes these interests can become cumbersome to own and manage.

Let’s look at some of the issues regarding oil and gas royalty management. Federal and Indian Oil & Gas Royalty Valuation and Management () The papers presented at the Special Institute on Federal and Indian Oil & Gas Royalty Valuation and Management are available both as a written manual (looseleaf binder or downloadable file) and as an audio CD or download (See audio options in the drop-down menu).

Information and Technology held two hearings looking into the Minerals Management Service’s (MMS) royalty-collection efforts which were instrumental in getting MMS to re-write its oil-valuation rules. She also worked with the General Accounting Office and the House Resources Committee to bring about stronger oversight of MMS.

The report, which describes inappropriate behavior by the staff at the Minerals Management Service from toalso found that inspectors had accepted meals, tickets to sporting events and. oversight.

This supervision and oversight is similar to Resources Revenue is responsible for production valuation and royalty management functions. management services for mineral leases on American Indian lands. One-hundred percent of monies collected for Indian mineral leases are returned to the Indian or Tribal lessor.

The Minerals Management Service’s Royalty Management Program is responsible for collecting and disbursing revenues of about $4 billion annually that are generated from leasing Federal and Indian lands and for collecting royalties for minerals extracted from leased lands.

Surplus Books Program; “Crude Oil Valuation: The Ineffective Response of the Minerals Management Service.” The House Committee on Government Reform and Oversight issued this report as a follow-up to a hearing of the Subcommittee on Government Management Information and Technology held on J Royalty-in-kind (RIK) is a concept whose time has come.

A growing interest in a comprehensive RIK program was demonstrated throughout by the oil and gas industry, the federal government, and state governments.

Royalty-in-kind was a common theme in industry's comments to the proposed oil valuation regulations. Look at Section 2 Royalties of the lease terms on your geothermal lease, which will be form # It will say: “Royalty rates on production are: 10 percent for steam, heat, or energy; 5 percent for byproducts; and 5 percent for demineralized water.” 2.

Search, browse and learn about the Federal Register. Federal Register is the unofficial daily publication for rules, proposed rules, and notices of Federal agencies and organizations, as well as executive orders and other presidential documents.time as the production of the mineral resumes.

A “shut-in royalty” is a payment by the lessee to the lessor during the period of time a well needs to be shut down.

The shut-in royalty, similar to the delay rental, is intended to hold the lease during a period of time in which there is no production of the minerals.

One way to think.The Division of Minerals Evaluation (DME) is a small team of professionals with expertise in geology, engineering, and mineral economics. Our team members have diverse backgrounds in oil, natural gas, coal, metals, mineral materials, and technical editing.