[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7377 Introduced in House (IH)]

<DOC>






118th CONGRESS
  2d Session
                                H. R. 7377

  To amend the Federal Oil and Gas Royalty Management Act of 1982 to 
 improve the management of royalties from oil and gas leases, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 15, 2024

 Mr. Hunt (for himself, Mr. Nehls, Mr. Weber of Texas, and Mr. Babin) 
 introduced the following bill; which was referred to the Committee on 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
  To amend the Federal Oil and Gas Royalty Management Act of 1982 to 
 improve the management of royalties from oil and gas leases, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Royalty Resiliency Act''.

SEC. 2. DETERMINATION OF ALLOCATIONS OF PRODUCTION FOR UNITS AND 
              COMMUNITIZATION AGREEMENTS.

    Section 111(j) of the Federal Oil and Gas Royalty Management Act of 
1982 (30 U.S.C. 1721(j)) is amended to read as follows:
    ``(j) The Secretary shall issue all determinations of allocations 
of production for units and communitization agreements within 120 days 
of a request for determination. Until the Secretary issues the 
determination, the lessee or its designee of a lease in a unit or 
communitization agreement shall report and pay royalties on oil and gas 
production for each production month in accordance with the terms of 
the proposed allocation of production for the unit or communitization 
agreement. After the Secretary issues the determination, the lessee or 
its designee shall, as necessary, correct such reports and the amount 
of royalties paid on oil and gas production under the unit or 
communitization agreement by not later than the end of the third month 
following the month in which the lessee or its designee receives the 
determination from the Secretary. The Secretary shall waive interest 
due on obligations subject to the determination until the end of the 
third month following the month in which the lessee or its designee 
receives the determination from the Secretary.''.
                                 <all>