[Federal Register Volume 60, Number 92 (Friday, May 12, 1995)]
[Notices]
[Pages 25735-25736]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-11823]
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DEPARTMENT OF THE INTERIOR
Minerals Management Service
Announcement of Workshop on Proposed Policy Options for Outer
Continental Shelf (OCS) Natural Gas and Oil Resource Management
AGENCY: Minerals Management Service, Interior.
ACTION: The Minerals Management Service (MMS) will hold a workshop at
the Gulf of Mexico Regional Office located at 1201 Elmwood Park
Boulevard, Jefferson, Louisiana 70123, on June 12-13, 1995.
The agenda will cover the following policies:
Bid Adequacy Procedures (bidding methods and number of bid
and geometric average evaluation of the tract rules).
Increased Flexibility in Length of Lease Terms, with
Possible Changes in Rental Rates and Minimum Bids (and provision for
suspension and [[Page 25736]] continuation of lease in effect with
longer time periods between drilling).
Information on Tracts with Indicated Hydrocarbons.
Royalty Policies for New Leases (to offer lower royalties
on offered tracts and suspend or reduce royalties based on market
factors).
Royalty Policies for Active Leases (expense and capital
investment-type projects).
Other Related Issues.
The meeting is open to the public. The first day will consist of
both individual and joint MMS-industry panel discussions. The morning
session will focus on issues such as bid adequacy, minimum bid levels,
rentals, tract sizes, longer lease terms, and information on tracts
with indicated hydrocarbons. The afternoon session will address royalty
rates on new leases and extensions in the primary term on existing
leases through modification of drilling requirements. It will also
include an overview of the proposed MMS guidelines for royalty relief
on active leases and the purpose they are designed to achieve. The
second day will be reserved for more detailed technical discussions of
how the proposed royalty relief guidelines would apply to
representative lease operations. Selected examples and case studies
will be considered in the afternoon session of the second day.
Interested parties are invited to attend both sessions, but it
could be especially valuable for those responsible for the preparation
of applications for royalty relief under the proposed guidelines to
attend on the second day. These persons would include petroleum
engineers, accountants, financial analysts and production managers.
REGISTRATION: Since seating will be limited, those wishing to attend
any part of the 2-day session should register in advance and indicate
which day(s) they plan to be present. Reservations should be made by
phone (703-787-1628) or facsimile (703-787-1621) no later than May 31,
1995, to Ms. Karen Decker, Minerals Management Service, Mail Stop-4200,
381 Elden Street, Herndon, Virginia 22070.
COMMENTS: Written comments on the workshop and/or the individual topics
covered should be sent by mail to the attention of Ms. Mary Vavrina,
Economic Evaluation Branch, Minerals Management Service, 381 Elden
Street, MS-4220, Herndon, Virginia, 22070, or at the above facsimile
number. For more detail on the issues that MMS would like respondents
to address, see the Call for Comment on Proposed Policy Options
published in the Federal Register on April 20, 1995 (60 FR 19767).
DATES: Monday, June 12, and Tuesday, June 13, 1995.
ADDRESSES: The Gulf of Mexico Regional Office, Minerals Management
Service, Elmwood Towers Building, Conference Rooms 111-115, 1201
Elmwood Park Boulevard, Jefferson, Louisiana 70123--Contact person:
Barney Congdon, (504) 736-2595.
FOR FURTHER INFORMATION CONTACT:
Contact Ms. Mary Vavrina in Herndon, Virginia, at the address or
facsimile number listed above, or call her directly at (703) 787-1540.
Dated: May 8, 1995.
Thomas Gernhofer,
Associate Director for Offshore Minerals Management.
[FR Doc. 95-11823 Filed 5-11-95; 8:45 am]
BILLING CODE 4310-MR-M
