U.S. grants royalty relief to hard-hit oil and gas drillers - Panorama Insurance Brokers

U.S. grants royalty relief to hard-hit oil and gas drillers

(Reuters) The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.

The move shows drillers are taking the government up on its offer to consider royalty cuts on a case-by-case basis after the Interior Department rejected industry calls for blanket relief covering all federal leases.

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