H.R. 6251 would prohibit the Secretary of the Interior from issuing new Federal oil and gas leases to holders of existing leases who do not diligently develop the lands subject to such existing leases or relinquish such leases.
Detailed Summary
Responsible Federal Oil and Gas Lease Act - Prohibits the Secretary of the Interior from authorizing any new lease for exploration or production of oil or natural gas unless the lessee: (1) certifies for each existing lease that the lessee has diligently developed the lands in order to produce oil or natural gas, or is producing oil or natural gas from such lands; or (2) has relinquished all federal oil and gas leases that are not being diligently developed.
Instructs the Secretary to promulgate diligent development regulations that: (1) include benchmarks for oil and gas development to ensure that leaseholders produce oil and gas from each lease within the five-year original term of the lease; and (2) require each leaseholder to submit a diligent development plan showing how the lessee will meet the benchmarks.
Establishes a civil penalty for noncompliance with this Act.
Amends the Outer Continental Shelf Lands Act, the Mineral Leasing Act, and the Mineral Leasing Act for Acquired Lands Act to set forth lease terms for an initial period of five years, renewable for additional one-year periods, subject to specified conditions.
Status of the Legislation
Latest Major Action: 6/26/2008: Failed of passage/not agreed to in House. Status: On motion to suspend the rules and pass the bill, as amended Failed by the Yeas and Nays: (2/3 required): 223 - 195 (Roll no. 469).
Points in Favor
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Points Against
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Visitor Comments
Mike Gibson
June 19, 2008, 3:11pm (report abuse)Many of these areas have been heavily explored. Areas that have not yet been developed are higher risk, lower potential areas. The companies who now own them probably have marginal prospects where it is not easy to find partners. The costs of tubulars (casing and tubing) have doubled and rigs are booked years in advance due to increased activity because of high prices. Putting additional restraints on marginal prospects may cause them to never get drilled. This seems short sighted. I am small independent and will never be offshore or in ANWAR. So I don't really care if they ever get opened up. It is probably better for me if they don't. My product, produced in old fields on the gulf coast, will stay more valuable.