To authorize the Secretary of Energy to lease lands within the naval oil shale reserves to private entities for the development and production of oil and natural gas.

Summary

Amends Federal law to authorize the Secretary of Energy to lease Federal lands inside a certain naval oil shale reserve to a private entity for petroleum exploration and development. Permits the Bureau of Land Management to serve as leasing agents of the Secretary. Conditions the lease of lands in an oil shale reserve upon payment of a royalty rate equivalent to that prevailing for similar leases in the State in which the reserve is located. Authorizes the Secretary to require that all or a portion of the Federal share of the royalty be paid in the form of petroleum. Mandates that 50 percent of the proceeds received from royalty and other payments made by a lessee be paid to the State within which the leased lands are located. Authorizes the Secretary to transfer existing Federal equipment inside a naval oil shale reserve if the lessee assumes responsibility for it.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 February 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 3 February 1995

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• Introduced in House

  summary · EN · 3 February 1995

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