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Federal Oil & Gas Leases: Framework and Developments

1h 1m

Created on July 21, 2016

Intermediate

$89

Overview

The Federal government owns 640 million acres, about 28% of all land in the United States, and controls the coastal area extending 200 nautical miles from the shore. The Bureau of Land Management (BLM) manages an estimated 5.3 billion barrels of proved oil reserves and 69 trillion cubic feet of proved gas reserves onshore, and the Bureau of Ocean Energy Management (BoEM) manages another 4.3 billion of proved oil reserves and 16 trillion cubic feet of proved gas reserves offshore. Not surprisingly, the Federal oil and gas lease program is frequently at the center of political and legal debates about the country's energy policy.

This course provides an overview of the legal framework governing Federal oil and gas leases. It offers background on how the Federal government grants leases to private parties and the fiscal terms of those leases. In addition, it surveys recent regulatory and judicial developments affecting onshore and offshore leasing.


Learning Objectives:

  1. Increase understanding of the role of the Federal government as the owner and manager of oil and gas resources
  2. Learn about the legal principles and fiscal significance of the Federal oil and gas leasing program
  3. Survey recent regulatory developments and court decisions
  4. Identify emerging issues and trends

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