Wyoming's $387M Tops MMS Lease Royalties for '02
Wyoming led the way for mineral lease revenues in 2002 and will receive a check for nearly $387 million from the Minerals Management Service (MMS), which is distributing a total of almost $753.3 million to 33 U.S. states.
MMS, which set lease revenue records for the previous two years, distributed $1 billion in 2001 and $800 million to U.S. states for mineral leases on federal lands located within their borders and adjacent to their shores. Annual distributions vary according to production and market prices.
Other states receiving MMS funds include New Mexico, $193.6 million; Colorado, $41.2 million; Utah, $35.4 million; Montana, $21.8 million; California, $16.2 million; Louisiana, $13.3 million; and Texas, $7.8 million.
The money represents collected bonuses, rents and royalties for leases on federal located within the states' borders and federal lands adjacent to their shores. Except for Alaska, the states collect 50% of the revenue, 40% goes toward the Reclamation Fund for water projects and 10% is put into the general fund of the U.S. Treasury. Alaska is given a 90% share of the revenues. Some coastal states with federal offshore tracts also collect 27% of those royalties.
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