Search Results for agency_names:"Natural Resources Revenue Office"

Found 3 results

Search Results: agency_names:"Natural Resources Revenue Office"

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  • 2021-01502 — Inflation Adjustments to Civil Monetary Penalty Rates for Calendar Year 2021
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    Type:Rule
    Citation:86 FR 7808
    Reading Time:about 9 minutes

    The Office of Natural Resources Revenue (ONRR) has issued a final rule to adjust its maximum civil monetary penalties for inflation experienced from October 2019 to October 2020. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act and affects penalties related to violations under the Federal Oil and Gas Royalty Management Act. The new rates are based on the Consumer Price Index and are effective immediately as of February 2, 2021. The rulemaking complies with various executive orders and acts, including the Regulatory Flexibility Act and the Paperwork Reduction Act.

    Simple Explanation

    The office in charge of collecting money when companies use natural resources has decided to make their fines bigger because the cost of things has gone up a little bit since last year. They use these new fine amounts right away and follow the rules set by the government for doing so.

  • 2021-00217 — ONRR 2020 Valuation Reform and Civil Penalty Rule
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    Type:Rule
    Citation:86 FR 4612
    Reading Time:about 3 hours

    The Office of Natural Resources Revenue (ONRR) has issued a final rule that updates regulations on how oil, gas, and coal are valued for royalty purposes from Federal and Indian leases, and how civil penalties for certain violations are assessed. The rule reintroduces the option for gas lessees to use an index-based valuation method, removes some limitations on transportation and processing allowances, and clarifies definitions and procedures for valuation. It also explains that civil penalties for payment violations will be assessed more transparently, considering the monetary impact of the violation, and clarifies how ONRR considers mitigating and aggravating circumstances, aiming to increase transparency and fairness.

    Simple Explanation

    The government has made new rules about how it figures out the money to be paid for using land to get oil, gas, and coal, and what happens if people break those rules. They want to make it fair and easy to understand, like a game where the rules are clear and everyone knows the score.

  • 2024-28876 — States' Decisions on Participating in Accounting and Auditing Relief for Federal Oil and Gas Marginal Properties
    Type:Notice
    Citation:89 FR 99275
    Reading Time:about 3 minutes

    The Office of Natural Resources Revenue (ONRR) has issued a notice detailing the options available for accounting and auditing relief for Federal oil and gas production from marginal properties. These options include the opportunity to submit one annual royalty report or request other specific forms of relief. Each state decides whether to participate in these relief options, and this notice lists the states' decisions for the calendar year 2025. The relief options aim to simplify requirements for marginal properties that meet certain production thresholds.

    Simple Explanation

    The notice explains that states can choose whether or not to make it easier for small oil and gas sites on federal land to report and pay what they owe for using the land. Each state decides if they want to help, but the document doesn't say which states said "yes" or "no," making things a bit confusing.