Alaska nets $5.4 million of 2000 federal mineral revenues

Petroleum News Alaska

The U.S. Minerals Management Service said Jan. 23 that Alaska received $5.4 million as the state’s share of federal mineral revenues.

The $5,407,073.73 is the state’s 2000 share of mineral revenues collected from federal public lands within Alaska’s borders and from federal offshore tracts adjacent to its seaward boundary.

The money, $239,556.80 of which came from the offshore tracts, represents the state’s share of bonuses, rents and royalties.

The state also received $13,400,000 in April as part of its 8(g) tracts settlement.

“A state is entitled to a share of the mineral revenues collected from federal lands located within that state’s boundaries. As prescribed by the Alaska Statehood Act, Alaska gets a 90 percent share. The U.S. Treasury gets the remaining 10 percent,” Acting MMS Director Thomas R. Kitsos said in a statement. “Coastal states, including Alaska, with federal offshore tracts adjacent to their seaward boundaries, receive 27 percent of those mineral royalties as well,” he said.

A total of $800,315,424.86 was distributed to 35 states in 2000 as their share of revenues collected by the MMS. “Amounts vary according to production and market prices,” said Kitsos, “$541 million was distributed to states in 1999, $559 million in 1998, $617 million in 1997 and $528 million in 1996.”

Alaska’s share for 1999 was $4.1 million.