The Office of State Lands and Investment’s board is considering extending the amount of time an operator is allowed to flare state-owned minerals before severance taxes are applied.
Office of State Lands and Investments
There will be a public meeting Friday afternoon in Cheyenne to discuss proposed revisions to the standard lease form for state-owned oil and natural gas — the first such revision in 20 years to clarify and update bonding, valuation, royalties and other business regarding state-owned oil and gas resources. The public meeting will be held from 2 p.m. to 5 p.m. at the Herschler Building, in conference room 1699. The revisions were first made public last fall, and were sharply criticized by some in the oil and gas industry because of a provision to raise the maximum royalty rate.
The persistent low price of natural gas continues to push coal-bed methane gas operators in the Powder River Basin to the brink of bankruptcy.