As ordered reported by the House Committee on Natural Resources on April 16, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
*
*
*
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
*
*
*
Spending Subject to Appropriation (Outlays)
0
0
0
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between -$500,000 and $500,000.
Summary
H.R. 7377 would amend the Federal Oil and Gas Royalty Management Act of 1982 to change how leaseholders that are applying to jointly develop federal land allocate royalty payments before the Department of the Interior (DOI) approves the final allocations.
Oil and gas leaseholders can enter into joint agreements to develop leased land and drill wells in areas where they could not independently comply with certain regulations. Such a joint application includes the proposed apportionment of production and royalties to be paid by each producer.
