Industry Works With ONRR, Tribes to Ensure Indian Energy Assets Are Valued Fairly
Western Energy Alliance’s work on the Indian Oil Valuation Committee culminates in proposed rule
(DENVER) - Western Energy Alliance today joined the Office of Natural Resources Revenue (ONRR) and Interior Secretary Sally Jewel in applauding the release of proposed rules governing valuation of Indian oil assets. The Alliance, represented by Robert S. Thompson III, shareholder in the Denver office of international law firm Greenberg Traurig LLP, and Kathleen Sgamma, vice president of government and public affairs for Western Energy Alliance, was a key member of the ONRR Indian Oil Valuation Negotiated Rulemaking Committee that developed a consensus on the concepts that form the basis of this rule.
“The proposed rule demonstrates that when industry, the federal government, and key stakeholders work together, sensible rules can be implemented,” said Sgamma. “The negotiated rulemaking committee worked for more than a year to develop a consensus on valuing Indian oil appropriately so that Tribes and allottees receive a fair share of royalties while not discouraging development on Indian lands.
“Tribal, Indian mineral owners, industry, and federal government representatives came together and developed a concept that ensures that Tribes and Indian royalty owners benefit from the American boom in oil production. Western Energy Alliance will be commenting on the rule to ensure the details correspond to the concepts developed, but we have full confidence in Deborah Gibbs Tschudy, Deputy Director, Office of Natural Resources Revenue, a leader who made this possible after others had failed for over a decade.”
The proposed rule is available at http://www.ofr.gov/OFRUpload/OFRData/2014-13967_PI.pdf.
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