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Oil and Gas Royalty Collections--Serious Financial Management Problems Need Congressional Attention

FGMSD-79-24 Published: Apr 13, 1979. Publicly Released: Apr 13, 1979.
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Highlights

A significant portion of domestically produced oil and natural gas comes from Federal and Indian lands leased to the private sector. During 1977, the U.S. Geological Survey (USGS) collected about $1.2 billion in royalties on these lands from the oil and gas industry. Extensive congressional interest in government debt collection procedures prompted a review of the system and related controls used by the agency in collecting these royalties.

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Collection proceduresDomestic crude oilFinancial managementGas leasesGovernment collectionsIndian landsLeasing policiesOil leasesPublic landsRoyalty payments