The Senate on Wednesday approved oil and gas royalty legislation sought by a group of lawmakers from energy-rich states.
H.R. 7377, the “Royalty Resiliency Act,” from Rep. Wesley Hunt (R-Texas), passed by unanimous consent. It now heads to President Joe Biden, after passing the House in July.
The legislation would remove certain royalties on oil and gas leases until the Interior Department approves a so-called communitization agreement laying out exact royalty amounts.
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“This Bill ensures that the Federal Government only charges operators the correct percentage that corresponds with their land ownership,” Hunt’s office said earlier this year.
