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House Bill 7377
118th Congress(2023-2024)
Royalty Resiliency Act
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Passed House on Jul 22, 2024
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H. R. 7377 (Reported-in-House)

Union Calendar No. 464

118th CONGRESS
2d Session
H. R. 7377

[Report No. 118–562]


To amend the Federal Oil and Gas Royalty Management Act of 1982 to improve the management of royalties from oil and gas leases, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

February 15, 2024

Mr. Hunt (for himself, Mr. Nehls, Mr. Weber of Texas, and Mr. Babin) introduced the following bill; which was referred to the Committee on Natural Resources

June 27, 2024

Additional sponsors: Ms. Hageman, Mr. Self, and Mr. Graves of Louisiana

June 27, 2024

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

[Strike out all after the enacting clause and insert the part printed in italic]

[For text of introduced bill, see copy of bill as introduced on February 15, 2024]

A BILL

To amend the Federal Oil and Gas Royalty Management Act of 1982 to improve the management of royalties from oil and gas leases, and for other purposes.

SECTION 1. Short title.

This Act may be cited as the “Royalty Resiliency Act”.

SEC. 2. Determination of allocations of production for units and communitization agreements.

Section 111(j) of the Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C. 1721(j)), as amended by the Federal Oil and Gas Royalty Simplification and Fairness Act of 1996 (Public Law 104–185), is amended to read as follows:

“(j) The Secretary shall issue all determinations of allocations of production for units and communitization agreements within 120 days of a request for determination. Until the Secretary issues the determination, the lessee or its designee of a lease in a unit or communitization agreement shall report and pay royalties on oil and gas production for each production month in accordance with the terms of the proposed allocation of production for the unit or communitization agreement. After the Secretary issues the determination, the lessee or its designee shall, as necessary, correct such reports and the amount of royalties paid on oil and gas production under the unit or communitization agreement by not later than the end of the third month following the month in which the lessee or its designee receives the determination from the Secretary. Subject to the full and timely monthly payment of royalties to all parties in accordance with the terms of the proposed allocation of production for the unit or communitization agreement, the Secretary shall waive interest due on obligations subject to the determination until the end of the third month following the month in which the lessee or its designee receives the determination from the Secretary. This subsection shall not apply to unit or communization agreements containing Indian lands.”.

Union Calendar No. 464

118th CONGRESS
     2d Session
H. R. 7377
[Report No. 118–562]
A BILL
To amend the Federal Oil and Gas Royalty Management Act of 1982 to improve the management of royalties from oil and gas leases, and for other purposes.
June 27, 2024
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed