WASHINGTON, Jan. 6 -- Office of Natural Resources Revenue has issued a notice called: States' Decisions on Participating in Accounting and Auditing Relief for Federal Oil and Gas Marginal Properties.
The notice was published in the Federal Register on Jan. 6 by April Lockler, Acting Director, Office of Natural Resources Revenue.
Summary: The Office of Natural Resources Revenue's (ONRR) regulations provide two types of accounting and auditing relief for Federal oil and gas production from marginal properties: the cumulative royalty reports and payments relief option, which allows a lessee or designee to submit one royalty report and payment for the calendar year's production; and other requested relief, which allows a lessee or designee to...