Oil and gas production in Osage County might suffer because the cost of doing business could become too expensive, operators tell the paper.
Operators are facing a huge spike in costs to drill for oil and gas, as the Osage Nation negotiated rule-making committee prepares to meet to finalize revisions to federal rules governing exploration and production. Following an 11-year court battle, the Osage Nation reached a $380 million settlement with the federal government in 2011 over mismanagement of the tribe’s $4 billion oil and gas estate. The settlement included a provision to rewrite the Code of Federal Regulations Title 25, Part 226 Leasing of Osage Reservation Lands for Oil and Gas Mining.
Read more at: journalrecord.com
