In FY 2008, the Dept. of Interior's Minerals Manag

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Mineral Revenues: MMS Could Do More to Improve the Accuracy of Key Data Used to Collect and Verify Oil and Gas Royalties

Our Price: $25.00

By Frank Rusco (au)
Year: 2009
Pages: 48
Binding Paperback

Product Code: 1437922279

Description

In FY 2008, the Dept. of Interior's Minerals Management Service (MMS) collected over $12 billion in royalties from oil and gas production from federal lands and waters. Companies that produce this oil and gas self-report to MMS data on the amount of oil and gas they produced and sold, the value of this production, and the amount of royalties owed. This report provides: (1) a descriptive update on MMS's key efforts to improve the accuracy of oil and gas royalty data; (2) an assessment of the completeness and reasonableness of FY 2006 and 2007 oil and gas royalty data -- the latest data available; and (3) factors identified by oil and gas companies that affect their ability to accurately report royalties owed to the federal government. Illus.

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