Fluid Mineral Leases and Leasing Process

The Bureau of Land Management (BLM) is proposing to revise the BLM's oil and gas leasing regulations. Among other things, the proposed rule would reflect provisions of the Inflation Reduction Act pertaining to royalty rates, rentals, and minimum bids, and would update the bonding requirements for leasing, development, and production. The proposed rule would also improve the BLM's leasing process to ensure proper stewardship of public lands and resources and would revise some operating requirements.