Feds: Royalty exemption for new shallow-water Gulf wells
(WorldNews Sport)

NEW ORLEANS (AP) - The federal agencies that make and enforce offshore oil and gas leases say they´ll encourage new wells in shallow Gulf of Mexico waters by allowing some reduced-royalty or even royalty-free production if owners can prove they need it. Some $20 billion worth of oil and gas may go untapped without changes described in a report issued Tuesday, according to the heads of the Bureau of Ocean Energy Management, which makes the...