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Financial impact on oil and gas companies by Q3 2024
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Western Energy Alliance Leads Lawsuit to Block US Rule Raising Drilling Fees
May 16, 2024, 08:04 PM
Oil and gas groups have filed a lawsuit against the U.S. Bureau of Land Management to block a new rule that increases fees for drilling on public lands. The lawsuit, led by the Western Energy Alliance, challenges the rule which aims to raise fees, boost bonding requirements, and increase royalty rates and minimum bids for oil and gas development on federal lands. This move is part of the government's effort to enhance returns and address environmental impacts from drilling activities. The U.S. Interior Department is also involved in the lawsuit.
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