Western Energy Alliance has joined the Office of Natural Resources Revenue (ONRR) and Interior Secretary Sally Jewel in applauding the release of proposed rules governing valuation of Indian oil assets.
The Alliance – represented by Robert S. Thompson III, shareholder in the Denver, Colorado, office of international law firm Greenberg Traurig LLP, and Kathleen Sgamma, vice president of government and public affairs for Western Energy Alliance – was a key member of the ONRR Indian Oil Valuation Negotiated Rulemaking Committee that developed a consensus on the concepts that form the basis of this rule.
“The proposed rule demonstrates that when industry, the federal government, and key stakeholders work together, sensible rules can be implemented,” Sgamma said. “The negotiated rulemaking committee worked for more than a year to develop a consensus on valuing Indian oil appropriately so that tribes and allottees receive a fair share of royalties while not discouraging development on Indian lands.
“Tribal, Indian mineral owner, industry, and federal government representatives came together and developed a concept that ensures that tribes and Indian royalty owners benefit from the American boom in oil production. Western Energy Alliance will be commenting on the rule to ensure that the details correspond to the concepts developed, but we have full confidence in Deborah Gibbs Tschudy, deputy director, Office of Natural Resources Revenue, a leader who made this possible after others had failed for over a decade.”
Western Energy Alliance, founded in 1974 as the Independent Petroleum Association of Mountain States, is a nonprofit trade association representing more than 480 companies engaged in all aspects of environmentally responsible exploration and production of oil and natural gas in the West.