Daines Secures Extension of Federal and Indian Coal, Oil and Gas Valuation Regs

WASHINGTON, D.C. – Senator Steve Daines today announced that following his urging, the Department of Interior has extended the comment period for the Office of Natural Resource Revenue’s proposed rule to reform royalty valuation for coal, oil and gas.

SNL Financial reports that “an appeal by western U.S. political leaders for more time to comment on new rules impacting the federal coal lease program was granted Feb. 12, allowing critics of the effort two additional months to make their case.”

The Office of Natural Resources Revenue has announced that it will extend by 60 days the public comment period for the proposed regulation.

As SNL Financial further detailed, “the effort was led by U.S. Sen. Steve Daines, R-Mont., and U.S. Rep. Cynthia Lummis, R-Wyo., and included 15 Republican lawmakers from six states.”

Earlier this week, Daines led more than a dozen in Senate and House members in calling on Interior Secretary Sally Jewell to extend the comment deadline to allow the state of Montana, Montana tribes, union members and business owners more time to provide input on the proposed rule.

Daines noted that the rule could have serious ramifications on domestic energy production and create uncertainty in the value of coal royalties that Montana and other states depend upon.

“The complexity of this rule required additional time for parties to analyze the proposed changes and I’m pleased to know that Secretary Jewell agreed, at my urging, to extend the comment deadline,” Daines stated. “Montana tribes and communities across our state depend on the sale of federal coal, oil and gas within their borders for education, infrastructure and other public services. The proposed rule is set to have serious adverse impacts on Montana’s and our tribes’ economies and it remains important that they are given the proper time to review it.”

Daines’ full letter to Secretary Jewell is available HERE.