U.S. Department of the Interior
Minerals Management Service
Office of Communications
NEWS RELEASE
MMS AND WYOMING CONTINUE OIL ROYALTY IN KIND SALES
The Department of the Interior's Minerals Management Service (MMS) and the State of Wyoming have announced the offering for sale to the public of approximately 4,900 barrels of royalty crude oil per day from Federal and State properties. This fourth offering continues the ongoing Royalty In Kind (RIK) program partnership between MMS and the State. The State and MMS believe that taking oil royalties as a share of production from the properties offered in the Invitation For Bid (IFB) is a viable alternative to the agencies’ usual practice of collecting oil royalties as a share of the value received by the lessee for sale of the production. Both agencies will continue to monitor the effectiveness of the RIK approach to taking crude oil royalties in Wyoming.
The most recent IFB No. 31010, offered 3,250 barrels per day of crude oil for delivery to purchasers for production months October 1999 through March 2000.
This sale, IFB No. 31053, will involve about
4,900 barrels of royalty production from 85 Federal and State properties located in the Bighorn and Powder River Basins of Wyoming, and represents an increase of about 1,650 barrels per day compared to the prior sale. Bids will be accepted on specific pipeline subgroups and/or entire packages of Wyoming sweet, sour, and asphaltic sour crude. Delivery of actual production will begin on April 1, 2000, and continue for six months.Specific information regarding the sale is detailed in IFB No.31053 to be issued
February 1, 2000. The IFB is available on the MMS website, http://www.mms.gov, by clicking on "What’s New". For additional information, contact Mr. Robert Kronebusch of MMS at 303-275-7113 or Mr. Harold Kemp of the State of Wyoming, at 307-777-6643.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 disbursed about $4 billion annually in revenues from federal offshore mineral leases and from onshore mineral leases on federal and Indian lands.
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MMS Internet website address: http://www.mms.gov
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