Tag: royalties

Texas producers paid record amont of state and local taxes last year

The figures come at a time when the energy sector is dramatically slowing its activity in Texas amid falling oil prices, prompting some concern about whether public entities that have grown accustomed to oil money could feel the pinch as production slows.  More »

Obama budget would slash oil tax breaks while boosting renewables

In his $4 trillion budget request to Congress, Obama also says he wants to change the way money from offshore oil and gas production is shared with Gulf Coast states, by diverting more of those dollars to national programs with “broad” natural resource and conservation benefits.  More »

Timeline slips for some oil and gas regulations

Here’s an overview of what’s coming and when in Obama administration rules for the oil and gas industry.  More »

Poll: Public wants action on flaring

The oil industry’s practice of burning or releasing natural gas from wells where crude is the big moneymaker is unpopular in several western states, according to a poll released Thursday.  More »

West Virginia opens bids on drilling under Ohio River

Noble Energy, Gastar Exploration and Statoil submitted bids with 20 percent royalty rates. State officials plan to pick winners in the next week or two.  More »

Report: Oil exports and higher royalties should go together

The Obama administration would shortchange taxpayers if it heeds the oil industry’s calls to lift a 39-year-ban on exporting U.S. crude without first hiking the royalty rate companies pay the government for drilling on federal lands, according to a new report.  More »

Report: Taxpayers not getting fair return from drilling

American taxpayers may not be getting the payout they deserve from oil and gas harvested on public lands, government investigators said Tuesday. The U.S. now charges among the lowest royalty and lease rates in the world for onshore oil and gas activity.  More »

Drilling under Pennsylvania park could reap millions

The county that includes Pittsburgh could reap more than $73 million by leasing a public park for gas well drilling, a newspaper reported Sunday.  More »

Feds nab $14.2 billion from energy development

The federal government collected a near-record haul in fees and royalty payments from oil and gas drilling on public lands and U.S. waters during the last fiscal year, the Interior Department announced Tuesday. All told, the federal government collected $14.2 billion from the activity; Texas’ share was $17 million.  More »

Report: Royalty revenue sharing plan would cost taxpayers $49 billion

A congressional proposal to give coastal states a greater share of government royalties tied to oil and gas drilling would increase the federal debt by more than $49 billion over the next three decades, according to new analysis set to be released Friday.  More »

Feds fine Apache for false Gulf of Mexico production data

U.S. officials have ordered Apache Corp. to pay a $2.7 million fine for allegedly submitting false data about its Gulf of Mexico oil production and the royalties the Houston-based company owed the federal government.  More »

Alaskans to get $900 in oil wealth checks this year

Nearly every Alaska resident will receive a check for $900, as this year’s share of the state’s oil wealth.  More »

Is the state holding your oil and gas royalties?

The money sitting around in the state’s sock drawer is enough to buy a six-pack of Shiner Bock, a half-gallon of Bluebell Ice Cream and breakfast tacos for everyone in Texas.  More »

Amish debate fracking and temptation

In parts of Ohio and Pennsylvania where horse-drawn buggies clip-clop at the pace of a bygone era, Amish communities are debating a new temptation — the large cash royalties that can come with the boom in oil and gas drilling.  More »

Chesapeake must face Ohio suit over royalties, court says

Chesapeake Energy Corp. must face an Ohio lawsuit over allegations the company underpaid gas royalties for years, an appeals court said, reinstating the case.  More »
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