Search Results for keywords:"Natural Resources Revenue"

The Office of Natural Resources Revenue (ONRR) is delaying the effective date of its "2020 Valuation Reform and Civil Penalty Rule" from February 16, 2021, to April 16, 2021. This decision follows the January 20, 2021, White House directive to pause and review pending regulations, ensuring they properly consider applicable laws and policies. The delay also opens a 30-day comment period for public input on the rule's legal and policy foundations and the impact of the delay itself. The ONRR hopes to gather feedback on various concerns, particularly how recent changes in Executive Orders and potential adjustments to royalty calculations might affect the rule.

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.