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![handle is hein.congrecreports/crptxaghr0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
118TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 118-562
ROYALTY RESILIENCY ACT
JUNE 27, 2024.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. WESTERMAN, from the Committee on Natural Resources,
submitted the following
REPORT
[To accompany H.R. 7377]
[Including cost estimate of the Congressional Budget Office]
The Committee on Natural Resources, to whom was referred the
bill (H.R. 7377) to amend the Federal Oil and Gas Royalty Manage-
ment Act of 1982 to improve the management of royalties from oil
and gas leases, and for other purposes, having considered the
same, reports favorably thereon with an amendment and rec-
ommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
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 determina-
tion. 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 nec-
essary, correct such reports and the amount of royalties paid on oil and gas produc-
tion 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 de-
termination 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 in-
terest 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 deter-
49-006
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