A bill to authorize the exchange of existing Federal oil and gas leases in the State of Montana, located in the Lewis and Clark National Forest and the Flathead National Forest, for credits in future Federal oil and gas lease sales in the Gulf of Mexico, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

5 February 1998

Last action

—

Status

Referred to Subcommittee on Forests and Public Lands.

Summary

Authorizes the Secretary of the Interior to exchange certain Federal oil and gas leases in a specified exchange area in the State of Montana for credits that may be used for: (1) bids in Federal oil and gas lease sales, or for royalty and rentals due under Federal leases in the central and western planning areas of the Gulf of Mexico for leases outside a specified zone; and (2) bid, royalty or rental payments due under Federal oil and gas leases on Federal land in the State of Montana. Provides that the amount of such credits shall be based on investments made in lease acquisition and development before the date of enactment of this Act and agreed to by the Secretary and the leaseholder. Withdraws such exchange area from: (1) location and entry under the mining laws; and (2) leasing under the mineral leasing laws. Directs the Secretary to pay to the State of Montana the amount it would have received in cash but for the leaseholder's use of such credit to pay rentals or royalties on a Federal oil or gas lease on Federal land in Montana.

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Documents

3 official files

Introduced in Senate (text)
Introduced in Senate · EN · 5 February 1998
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Introduced in Senate (PDF)
Introduced in Senate · EN · 5 February 1998
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Introduced in Senate
summary · EN · 5 February 1998
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Sources

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Official source: https://www.congress.gov/bill/105th-congress/senate-bill/1616
Open data entity: https://api.congress.gov/v3/bill/105/s/1616