Federal Oil and Gas Royalty Management Act of 1982
E34579
The Federal Oil and Gas Royalty Management Act of 1982 is a U.S. law that governs the collection, accounting, and auditing of royalties from oil and gas production on federal and Indian lands to ensure proper return to the public.
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
ⓘ
energy law ⓘ natural resources law ⓘ |
| administeredBy |
Office of Natural Resources Revenue
ⓘ
United States Department of the Interior ⓘ |
| aimsTo |
increase federal and Indian revenue from mineral development
ⓘ
reduce underpayment of royalties ⓘ |
| appliesTo |
Indian lands
ⓘ
Indian oil and gas leases ⓘ federal lands ⓘ federal oil and gas leases ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| enactedBy | United States Congress ⓘ |
| ensures |
that royalties are properly reported and paid
ⓘ
that the public receives fair value for resources extracted from federal lands ⓘ |
| establishes |
systems for accounting of oil and gas royalties
ⓘ
systems for auditing of oil and gas royalties ⓘ systems for collection of oil and gas royalties ⓘ |
| focusesOn |
accurate valuation of produced oil and gas
ⓘ
compliance by lessees and operators ⓘ |
| legalArea |
Indian affairs
ⓘ
public lands ⓘ |
| protects |
financial interests of Indian tribes and individual Indian mineral owners
ⓘ
financial interests of the United States in mineral resources ⓘ |
| providesFor |
civil penalties for noncompliance
ⓘ
criminal penalties for knowing and willful violations ⓘ |
| purpose |
to ensure proper return to the public from oil and gas production on federal and Indian lands
ⓘ
to improve management of mineral revenues ⓘ |
| regulates |
gas royalties
ⓘ
oil royalties ⓘ royalty accounting ⓘ royalty auditing ⓘ royalty collection ⓘ |
| relatedTo |
Indian Mineral Leasing Act
ⓘ
Mineral Leasing Act ⓘ Outer Continental Shelf Lands Act ⓘ |
| requires |
accurate measurement of oil and gas production
ⓘ
interest and penalties for late or underpaid royalties ⓘ maintenance of records by lessees and operators ⓘ periodic audits of royalty payments ⓘ |
| sector | oil and gas ⓘ |
| shortName | FOGRMA ⓘ |
| signedBy | Ronald Reagan ⓘ |
| subjectMatter |
mineral revenue collection
ⓘ
royalty management ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Office of Natural Resources Revenue
→
hasLegalAuthority
→
Federal Oil and Gas Royalty Management Act of 1982
ⓘ