Regulation Identifier Number 1010-AC30

Accounting Relief for Marginal Properties

Title 30 CFR Part 204

Abstract: This rule allows reporters to seek accounting, reporting, and auditing relief for their marginal properties in accordance with section 117(c) of the Federal Oil and Gas Royalty Management Act of 1982 as amended by the Federal Oil and Gas Royalty Simplification and Fairness Act of 1996.

Related Federal Register Notices

Final Rule

Supplementary Proposed Rule

Summary: The Minerals Management Service is proposing new regulations to implement certain provisions in the Federal Oil and Gas Royalty Simplification and Fairness Act of 1996.  These regulations would explain how lessees and their designees could obtain accounting and auditing relief for Federal oil and gas leases and unit and communitization agreements that qualify as marginal properties.

Proposed Rule

Summary: The Minerals Management Service hereby gives notice that is extending the public comments period on a notice of proposed rule, which was published in the Federal Register on January 21, 1999. The proposed rule would implement legislation for Federal oil and gas leases. The new regulations would explain to lessees and their designees how to obtain accounting and auditing relief for Federal margin properties.