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Wednesday, May 6, 2020 | History

3 edition of Rents, royalties, and bonuses of naval petroleum reserves. found in the catalog.

Rents, royalties, and bonuses of naval petroleum reserves.

United States. Congress. House. Committee on Public Lands

Rents, royalties, and bonuses of naval petroleum reserves.

by United States. Congress. House. Committee on Public Lands

  • 55 Want to read
  • 32 Currently reading

Published by [s.n.] in Washington .
Written in English

    Subjects:
  • Lease and rental services,
  • Petroleum industry and trade,
  • Naval reserves

  • Edition Notes

    Other titlesGranting portion of rents, royalties, and bonuses of naval petroleum reserves to States
    SeriesH.rp.1079
    The Physical Object
    FormatElectronic resource
    Pagination9 p.
    ID Numbers
    Open LibraryOL16137364M

    the Reserve. In , Congress enacted the Naval Petroleum Reserves Production Act, transferring management of the Reserve from the Navy to the Department of the Interior and mandating protection of the area’s exceptional surface values. Congress has directed the Secretary of the Interior to provide “maximum protection” to areas of the. The battle over oil development under President Trump won't just be fought over the Arctic National Wildlife Refuge. It's also going to focus on the National Petroleum Reserve in Alaska, to the west.

    “Strategic Significance of America’s Oil Shale – Volume I,” is a report sponsored by the U.S. Department of Energy, Office of the Naval Petroleum and Oil Shale Reserves (DOE/NPOSR), and prepared under Contract Number DE-ACFE (Task 6) by AOC Petroleum Sup-. Oil reserves represent current and future value that can be quantified and compared among companies. However, while the absolute quantity of oil or oil equivalent tells a story, the more important figure is the Net Present Value (NPV) of the oil (which must be sensitized to different assumed long-term oil prices) as that gives an actual dollar figure to ascribe as value.

      H.R. (th). To amend the Naval Petroleum Reserves Production Act of to direct the Secretary of the Interior to conduct an expeditious program of competitive leasing of oil and gas in the National Petroleum Reserve in Alaska, including at least one lease sale in the Reserve each year in the period through , and for other purposes. Naval Petroleum Reserve #3, Teapot Dome, Wyoming [show on map] The Teapot Dome reserve, part of the once immensely productive Salt Creek Oil Field region of Wyoming, was one of a few major oilfields in the country that were set aside by the federal government, to be used only in the event of a national crisis or shortage.


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Rents, royalties, and bonuses of naval petroleum reserves by United States. Congress. House. Committee on Public Lands Download PDF EPUB FB2

The Elk Hills Oil Field (formerly the Naval Petroleum Reserve No. 1) is a large oil field in western Kern County, in the Elk Hills of the San Joaquin Valley, California in the United States, about 20 miles (32 km) west of ered inand having a cumulative production of close to billion barrels (, dam 3) of oil at the end ofit is the fifth-largest oil.

For much of the 20th century, the Naval Petroleum and Oil Shale Reserves served as a contingency source of fuel for the Nation's military. All that changed in when Naval Petroleum Reserve No. 1, known as Elk Hills, was privatized, the first of a series of major organizational changes that leave only one of the original six Federal properties in the program.

Naval Petroleum Reserves No. 1 and No. 2 (Elk Hills Naval Petroleum Reserve) US Army Corps of Engineers Los Angeles District History () Location: The Naval Petroleum Reserve consists of Reserve No. 1 (NPR-1) and Reserve No. 2 (NPR-2). NPR-1 is located in the Elk Hills, east of McKittrick, Kern County, California, within an area bound to the.

Though the Reserves remained largely undeveloped until the s, the passage of the Naval Royalties Reserves Production Act in authorized their commercial development and transformed the Reserves into a lucrative source of revenue for the U.S.

government. The Buena Vista Oil Field, formerly the Naval Petroleum Reserve No. 2 (NPR-2) is a large oil field in Kern County, San Joaquin Valley, California in the United ered inand having a cumulative production of approximately million barrels (, m 3), it is the tenth-largest oil field in is also one of the closest to being exhausted, having a total.

To ensure sufficient fuel for the fleet, the Government began withdrawing probable oil-bearing lands from the public domain. Between andtracts in California, Utah, and Wyoming were set aside that became the And bonuses of naval petroleum reserves.

book Petroleum and Oil Shale Reserves - the oldest component of. This included the Naval Petroleum Reserves 1, 2, and 3 plus the Naval Oil Shale Reserves 1, 2, and 3. The Naval Petroleum Reserve Number 4, on the north slope of Alaska, was added in The United States Code is meant to be an organized, logical compilation of the laws passed by Congress.

At its top level, it divides the world of legislation into fifty topically-organized Titles, and each Title is further subdivided into any number of logical subtopics. The Naval Petroleum Reserves Production Act of requires NPR-1 to be produced at the so-called MER--the maximum sustainable rate which will permit economic development of the reservoir with- out detriment to ultimate recovery of oil.

DOE is responsible for determining the level of MER. Background Four naval petroleum reserves--NPR-1, -2, -3, and -d-have been estab- lished. The reserves were originally under the Department of the Navy’ s management.

On October 1,responsibility for managing the reserves was transferred from the Department of the Navy to DOE. (1) Applications for the export of petroleum products listed in supplement no. 1 to this part that were produced or derived from the Naval Petroleum Reserves, or that became available for export as a result of an exchange for a Naval Petroleum Reserves produced or derived commodity, other than crude oil, will be denied, unless the President.

Categories. Most relevant lists of abbreviations for NPR (Naval Petroleum Reserves). NAVAL OIL RESERVES. NAVAL OIL RESERVES.

In September Secretary of the Interior R. Ballinger suggested to President William Howard Taft that the United States should maintain naval oil reserves. After the necessary legislation had been passed, Presidents Taft and Wilson permanently withdrew from entry three Naval petroleum reserves—at Elk Hills, California; Buena Vista, California.

Exceptions and reservations with regard to deeds is something that sets forth a limitation on the right granted by a deed. Reservation regarding oil and gas rights made in an instrument may have to be construed taking into consideration the circumstances of the case and the intention of the parties.

report to the Congress entitled Divestiture of the Naval Petroleum Reserves. In summary, we found the following. The Defense Department maintains that in the event of an oil supply disruption, quick access to a source of oil is important to maintain mili- tary readiness, Defense views the Naval Petroleum Reserve (NPR) as a.

For each of the fiscal years from throughGOMESA directs the Secretary of the Treasury to deposit 50 percent of qualified OCS revenues—bonuses, rents, and royalties—from OCS oil and gas leases in areas designated as the Area in the Eastern Planning Area and the South Area into a special account in the U.S.

Treasury. EXPLORATION OF NAVAL PETROLEUM RESERVE NO. 4 AND ADJACENT AREAS, NORTHERN ALASKA, PART 4, GEOPHYSICS GEOLOGICAL SURVEY PROFESSIONAL PAPER A Prepared and published at the request of and in cooperation with the U.S.

Department of the Navy, Office of Naval Petroleum and Oil Shale ReservesCited by: 5. The Naval Petroleum Reserves (Reserves) program has controlled oil bearing lands owned by the U.S.

Government[i]. The Reserves acted as a contingency source of fuel for the U.S. military in times of emergency. Government owned petroleum and oil shale properties were under the Reserves.

Allocation and Disbursement of Royalties, Rentals, and Bonuses-Oil and Gas, Offshore Only official editions of the Federal Register provide legal notice to the public and judicial notice to the courts their CPSs, and the LWCF. This rule has no effect on the amount of royalties, rents, or bonuses that lessees, operators, or payors owe.

transferred ownership of Naval Petroleum Reserve #1 at Elk Hills California from the Department of Energy to Occidental Petroleum Corporation. File ~onsists of internal DOl memoranda and e-mails as well as correspondence with Congress elating to the feasibilin of the sale and the enabling legislation required Transaction develo pment files.

the HQ of DOE's Naval Petroleum and Oil Shale ONLY) Reserves (NPOSR) for which no existing. disposition authority exists. The. RIDS of the HQ Section of the Naval Petroleum and Oil Shale Reserves (FE) has been reviewed for accuracy and completeness.

The three series. noted on the attached sheet are currently.National Petroleum Reserve in Alaska. Formerly known as Naval Petroleum Reserve No. 4, the National Petroleum Reserve in Alaska (NPR-A) is now a vast ~million-acre area on Alaska's North Slope.

Inmindful of the land's conceivable petroleum value, President Harding set aside this area as an emergency oil supply for the U.S. Navy.bonuses and royalties to extract the economic rent deriving therefrom.5 The discussion below outlines the various fiscal tools generally deployed in the petroleum sector.

We will subsequently describe in detail the petroleum fiscal tools employed by Kenya in section 3. 2 Johnston, Daniel.