Notice to Lessees No. 5 Gas Royalty Act of 1987

Summary

Directs the Secretary of the Interior to determine on a case-by-case basis the royalty adjustments for certain natural gas production from Federal onshore and Indian leases which are within the coverage of "Notice to Lessees and Operators of Federal and Indian Onshore Oil and Gas Leases Numbered 5" (NTL-5). Sets as a prerequisite for such adjustment written documentation provided by the lessee or royalty payor of a sales price less than the highest applicable price under the Natural Gas Policy Act. Prescribes guidelines for royalty adjustments regarding: (1) natural gas produced from a Federal onshore lease and from an Indian lease; and (2) the recoupment or refund of previously paid royalties. Declares that NTL-5 and the Notice of Modification to NTL-5 (published in the Federal Register on July 25, 1986) were duly promulgated regulations of the Department of the Interior. Authorizes a lessee or royalty payor to request the Secretary to examine royalty payments which exceeded the values determined under this Act. Requires lessees and payors to maintain records related to the value of gas production to which this Act applies for the period January 1, 1982, through July 31, 1986. Requires the Secretary to report annually to the Congress on demands for payment, recoupments, and refunds transacted under this Act.

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Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 7 January 1988

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• House agreed to Senate amendment with amendment

  summary · EN · 18 December 1987

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• Passed House amended

  summary · EN · 3 November 1987

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• Reported to House with amendment(s)

  summary · EN · 15 October 1987

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• Introduced in House

  summary · EN · 13 October 1987

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