Indian Mineral Owners Invited to Consult on Oil Pricing in ND
On October 29, American Indians who are mineral owners and tribal representatives will have their voices heard at a meeting hosted by the Department of the Interior’s Office of Natural Resources Revenue (ONRR).
The meeting that is scheduled in New Town, North Dakota will focus on recommendations for calculating “major portion pricing” for oil produced on Indian leases.
Individual mineral owners will be able to attend a meeting Tuesday morning from 9 to 11:30 a.m. at the New Town Civic Center, 103 Soo Place with a tribal meeting being held later in the day.
Indian royalty owners are being encouraged to attend the consultation meeting by Greg Gould, ONRR director according to an ONRR press release. "The Department and ONRR value the ideas that Indian mineral owners may have to improve the proposal now being considered. We also want to hear any concerns that royalty owners may have so that we can make the best informed decision possible to protect their royalty interest."
In late 2011 Interior and ONRR established an Indian Oil Valuation Negotiated Rulemaking Committee under the Federal Advisory Committee Act (FACA). The Committee is set up to advise the ONRR on how to perform the major portion pricing calculation for oil produced from Indian leases. The press release states, that “[m]ost Indian leases contain a major portion provision requiring value on the highest price paid for a major portion of production from the field.”
In September, the Negotiated Rulemaking Committee reached an agreement to implement major portion pricing for oil produced from Indian leases – applying to oil produced on tribal lands and allotted lands.
The Tuesday meeting is consistent with ONRR’s Tribal Consultation Policy. All comments from the meeting will be considered before proposed draft regulations are written and published in the Federal Register.
Additional meetings are planned throughout the United States.
Comments can be submitted to the ONRR Trust Liaison Officer at: firstname.lastname@example.org. If Indian mineral owners are unable to attend the meetings, comments can be offered through the Federal Register once the ONRR publishes a proposed rule.