WebApr 15, 2024 · The royalty rate for oil produced from federal reserves in deep waters in the Gulf of Mexico is 18.75%. In the November auction that was later canceled, energy companies including Shell, BP, Chevron and ExxonMobil offered a combined $192 million for offshore drilling rights in the Gulf. WebMar 4, 2024 · New Mexico received $2.6 billion from oil and gas industry taxes, royalties and fees during fiscal 2024 ended June 30, 2024—one-third of the state’s general fund. A total of $809 million came from the state’s share of minerals revenue on federal properties.
Oil Industry Executive: We Need an Administration That
WebThe BLM state and regional offices hold quarterly oil and gas lease sales if they have parcels available. The revenue reported includes the first year's rent of $1.50 per acre, a bonus bid … WebJan 27, 2024 · President Biden on Wednesday signed three executive orders aimed at tackling climate change, including suspending new oil and gas leasing on federal land … signatories of 2021 agreement on methane
API Drilling Down on Federal Leasing Facts
WebMar 10, 2024 · In fact, the oil industry already possess more than 9,000 approved—but unused—drilling permits on federal lands. Nearly 5,000 of those permits were approved in … WebMar 19, 2024 · Production of crude oil on federally managed lands and waters reached a record high of one billion barrels in 2024, according to figures released by the U.S. Interior Department. This is a 29 percent increase in oil production on federal lands since the end of the Obama administration. Production is up by 122 million barrels, or more than 13 ... WebJan 27, 2024 · As a result, over 50% of oil production and 92% of gas production comes from federal lands. Devon, EOG, and Occidental are all big players in both the Delaware basin of … sign a thank you note