Domenici Reacts to Kerr-Mcgee, Department of Interior Royalty Settlement
June 30, 2006
02:48 PM
“I am encouraged by today’s agreement between Kerr-McGee and the Department of the Interior to seek a mediator to resolve the oil and gas royalties’ dispute. As I have previously stated, I will continue to work within my authority to make certain that the American people receive our fair share of deepwater royalties. The passage yesterday of my Interior Department Appropriations amendment, which requires DOI to seek to renegotiate leases where no royalties are being paid, expresses this. While the parties to these leases are a long way from resolving these matters, I encourage both the company lessees and the DOI to act swiftly to bring a fair and adequate resolution to all outstanding royalty matters under the 1995 Deepwater Royalty Relief Act. If the parties do not act, they can be sure that I will.”
