Valuation Regulation FAQs
Question: Under what rules should I report, value, and pay royalties for January, 2017, production?
Answer: You should report, value, and pay royalties under the rules that were in effect prior to January 1, 2017. You can reference those regulations on the Code of Federal Regulations.
Question: Was the 2017 Valuation Rule stayed for all affected commodities (Federal oil and gas and Federal and Indian coal)?
Answer: Yes, the rule has been stayed for all commodities.
Question: Will ONRR assess penalties for reporting issues that result from this stay?
Answer: ONRR will not assess a civil penalty for any reporting issue that results from the postponement of the 2017 Valuation Rule as long as the lessee corrects the reporting issue by August 31, 2017. ONRR staff is available to help affected lessees correct their reporting.
Question: If I report and pay for a few months under the 2017 Valuation Rule and receive a credit from ONRR when I make corrections, will that credit include interest?
Answer: No. ONRR cannot legally pay interest under any circumstances.
Question: If I still have questions about reporting, valuing, and paying royalties in light of this stay, who should I contact?
Answer: If you have questions about how to value your oil, gas, or coal, please send an email to RoyaltyValuation@onrr.gov. If your questions are strictly reporting-related, please contact your royalty reporting contact person, as listed on our royalty reporting web page.
Question: What is a stay?
Answer: An administrative stay is a suspension or postponement of the enforcement or execution of a regulation or activity.