Stay Connected

MMS distributes record funds

Offshore staff

WASHINGTON, DC -- The Minerals Management Service had distributed a record $23.4 billion to state, American India, and federal accounts from onshore and offshore energy production during fiscal year 2008.

The record disbursements from royalties, rents, and bonuses shattered the 2007 total of $11.6 billion, far surpassing the previous record of $12.8 billion disbursed in FY 2006.

As part of the total, a record $2.59 billion was disbursed to 35 states as their share of federal revenues collected from energy production within their borders; $17.3 billion was disbursed to the US Treasury; and $534 million was disbursed to 34 American Indian Tribes, and 30,000 individual American Indian mineral owners.

Since it was established in 1982, MMS has disbursed more than $200 billion to federal, state, and American Indian accounts. Since 2001, a total of $89.2 billion has been dispersed, and $12.6 billion of that went to the states.

The disbursements to the states represent their cumulative share of revenues collected from energy production on federal lands within their borders, and from federal offshore oil and gas tracts adjacent to their shores. In addition, MMS funds various special use accounts, including $2 billion contributed to the Reclamation Fund for water projects; $897 million to the Land & Water Conservation Fund; and $150 million to the Historic Preservation Fund.

The $2.6 billion disbursed to 35 states in FY 2008 compares to the $1.97 billion disbursed in FY 2007, and the previous high of $2.2 billion disbursed in FY 2006. The state of Wyoming again led all states in FY 2008 by receiving more than $1.2 billion as its share of revenues collected from energy production on federal lands within its borders, including oil, gas, and coal production. New Mexico followed with more than $614 million in receipts.

Coastal states with producing federal offshore tracts within three miles of their state waters also receive 27% of royalties generated in those areas. Remaining offshore revenues collected by the MMS are deposited in various accounts of the US Treasury, including the General Fund, and to the Coastal Impact Assistant Program for states.

States receiving revenues through Fiscal Year 2008 include:

Alabama - $15,836,221.38

Alaska - $38,556,903.53

Arizona - $266,834.26

Arkansas - $13,189,227.20

California - $103,445,963.15

Colorado - $178,377,966.07

Florida - $6,298.00

Idaho - $1,978,855.53

Illinois - $286,561.67

Indiana - $191.50

Kansas - $2,605,367.43

Kentucky - $508,473.37

Louisiana - $49,466,635.80

Michigan - $1,171,444.97

Minnesota - $13,030.27

Mississippi - $1,572,333.15

Missouri - $4,561,311.95

Montana - $48,943,889.42

Nebraska - $40,800.27

Nevada - $17,622,148.72

New Mexico - $614,829,204.51

North Dakota - $23,392,224.43

Ohio - $574,971.75

Oklahoma - $7,240,652.39

Oregon - $294,100.53

Pennsylvania - $69,368.41

South Carolina- $277.50

South Dakota - $1,200,905.81

Tennessee - $99.00

Texas - $21,674,057.42

Utah - $173,839,327.76

Virginia - $227,154.44

Washington - $202,943.33

West Virginia - $776,251.48

Wyoming - $1,270,987,013.51

Total - $2,593,759,009.90

In addition to state disbursements, MMS disburses revenues to the county level in support of geothermal energy production. Under the Energy Policy Act of 2005, the federal government disburses 25% of receipts from geothermal energy production directly to counties where that production occurs.

About $9.1 million was disbursed to counties in six states for the alternative energy resource in FY 2008, more than doubling the $4.3 million that was disbursed to counties the previous fiscal year. Counties receiving geothermal receipts are located in California, Idaho, New Mexico, Nevada, Oregon, and Utah.

11/20/2008

Related Articles

Ikon Science adds three new plug-ins for Petrel

Apr 2, 2014

Ikon Science now offers three new plug-ins for Petrel, developed on the Ocean platform.

Sierra Hamilton acquires GeoPro assets

Apr 2, 2014

Sierra Hamilton LLC has acquired all the assets of GeoPro GmbH of Hamburg, Germany, to create a new operating subsidiary, GeoPro Geophysics LLC.

Harkand expands fleet with offshore construction vessel dedicated to Gulf of Mexico

Apr 1, 2014

Harkand has entered a charter agreement with Hornbeck Offshore for the offshore construction vessel HOS Mystique for a firm period of two years plus options.

Qingdao McDermott Wuchuan wins jackup fabrication work

Mar 28, 2014 McDermott International Inc.’s joint-venture company, Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd. (QMW), in Qingdao, China, has won a contract by Jord Oil & Gas Systems BV for proce...

Bishop Lifting Products acquires Delta Rigging & Tools

Mar 28, 2014

SBP Holdings, through its wholly owned subsidiary Bishop Lifting Products, has completed the acquisition of Delta Rigging & Tools.

Trending News

Marine Contracting wins EPCI contract for Cantarell field offshore Mexico

Sep 18, 2014

Marine Contracting has received an engineering, procurement, construction, and installation contract (EPCI) from Jord Oil & Gas B.V. to install an interconnecting bridge and tripod support structure for the Cantarell field in the Gulf of Mexico.

Wild Well Control shows new Singapore capping stack

Sep 18, 2014

Wild Well Control has unveiled a new subsea capping stack for use in a deepwater well control incident. 

GE to supply subsea manifolds for presalt fields offshore Brazil

Sep 18, 2014

Petrobras has awarded GE Oil & Gas a $300-million-plus contract to supply subsea manifold systems for presalt fields offshore Brazil.

Falkland basin group sets sights on oil

Sep 18, 2014

Noble Energy has re-evaluated the potential of numerous offshore licenses in the south and east Falkland basin.

Mermaid wins diving work offshore Middle East

Sep 18, 2014

Mermaid Maritime’s subsidiary in the Middle East has been awarded two saturation diving services contracts for offshore projects, both of six to eight months duration. 

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>