Osage County, Oklahoma
Photographer: Shane BrownOsage Nation's Massive Oil Estate May Get New US Protections
Proposal follows decades of concerns, lawsuits over federal management of 1.5-million-acre mineral estate the US holds in trust for Osage
The federal government is proposing new rules to protect a sprawling collection of oil and gas rights belonging to the Osage Nation in Oklahoma after decades of criticism that US authorities have mismanaged the estate.
The Department of Interior’s Bureau of Indian Affairs will weigh increasing the amount of money oil and gas producers put up in the form of bonds, a move the agency said would better protect the Osage Nation when companies default. It also proposes updating methods for valuing oil and gas production to prevent price manipulation and “ensure that the Osage Nation receives the full value of its oil and gas,” according to a statement Thursday.