Federal Oil and Gas Royalty Management Act of 1982

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The Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C. § 1701 et seq.) - The Royalty Management Act affirmed the authority of the Secretary of the Interior to administer and enforce all rules and regulations governing oil and gas leases on Federal or Indian Land, and established a policy aimed at developing a comprehensive system to manage royalties derived from leased oil and gas operations. Typically, oil and gas lessees pay the federal government royalties of 12.5 percent of the value of oil and gas removed or sold from each lease.


References

  1.  "Federal Oil and Gas Royalty Management Act of 1982"