Jul 20, 2023 IPAA Statement on BLM Proposed Rule
The Independent Petroleum Association of America release the following statement in response to the Bureau of Land Management’s proposed rule released today revising oil and gas leasing regulations including increases to bonding requirements, royalty rates, and minimum bids:
Dan Naatz, IPAA COO and EVP: “Interior’s proposed rule is another attempt by the Biden administration to reduce oil and natural gas production on federal lands. These excessive increases on bonding rates and other activities will hamper independent producers’ ability to operate on federal lands. The Bureau of Land Management’s proposals reflects a baseline disregard for the challenges that producers face in putting drilling packages together when they operate on federal lands – not only are companies working with the federal government, but also states and private landowners. Companies pay ever-increasing rents on leases as they assemble a framework for drilling and submit complex environmental stewardship plans, but the Biden administration continues to up the ante in their effort to reduce production despite growing energy needs.”
