U.S. Department of the Interior
Minerals Management Service
Office of Communications

NEWS RELEASE

MMS EXTENDS COMMENT PERIOD FOR OIL VALUATION RULE

The Department of the Interior, Minerals Management Service today announced the extension of the comment period for proposed amendments to regulations regarding the valuation of oil produced on federal lands. The comment period will be extended an additional 30 days.

"The issue affects a wide range of our constituency," said MMS Director Cynthia Quarterman, "With consideration for their expressed needs for additional time to provide adequate comment, we have extended the comment period from April 28 until May 28. Once we have compiled all the comments, we may reopen the comment period, if necessary, for clarification of comments received or consideration of other options."

Comments should be mailed to:

Minerals Management Service
Royalty Management Program
Rules and Publications Staff
P.O. Box 25165, MS 3101
Denver, Colorado 80225-0165

Comments may be delivered to:

Minerals Management Service
Royalty Management Program
Rules and Publications Staff, MS 3101
Building 85, Denver Federal Center, Room A-212
Denver, Colorado 80225-0165

MMS is the federal agency that manages the Nation's natural gas, oil and other mineral resources on the Outer Continental Shelf; and collects, accounts for, and disburses about $4 billion in revenues each year from federal offshore mineral leases and from onshore mineral leases on federal and Indian lands.

-MMS-

MMS Internet website address: http://www.mms.gov
24 hour Fax-on-Demand Service:(202) 219-1703