A proposal to cut the federal government’s take from deepwater oil and gas fields in the Gulf of Mexico is making its way towards Interior Secretary Ryan Zinke’s desk. Under a recommendation before the Interior Department’s Royalty Policy Committee, the royalty rate collected by the federal government for fields deeper than 200 feet would decrease from 18.75 percent to 12.5 percent in order to attract interest in areas that “are maturing basins with only the most challenging prospects remaining.”
Source: FuelFix
