Wyoming energy lease forms to get makeover

The form issued to companies when Wyoming grants a lease for state-owned oil or gas is getting its first major revision in nearly 30 years. The Office of State Land and Investments says a lot has changed since the so-called standard lease form was drafted in March 1982, including the names industry uses for its services.
The biggest change seeks to clarify royalty rates and production costs that are deducted by leaseholders in determining what is paid to the state.
Officials say the current form is too general and based on the
"Producer's 88" form that was written by the industry. It does
not favor the state in such leases, officials say.

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