Kerrey-Gam report warns mandating change in Gulf leases would be illegal

摘要

The Minerals Management Service cannot legally force oil and natural gas companies with flawed 1998 and 1999 leases in the Gulf of Mexico to change the agreements, a panel commissioned by Interior Secretary Dirk Kempthorne said last week. The view supports a position taken by the Interior Department and the companies following the disclosure in 2006 that the leases lack customary provisions limiting royalty relief when oil and gas prices rise to certain levels.