Audit Planned on Natural Gas Wells on Idaho Endowment Lands
BOISE, Idaho (AP) — Idaho is starting what officials say is the state’s first ever audit of natural gas and oil wells on state lands to make sure the state is getting its fair cut of royalty payments.
Idaho Department of Lands officials told Idaho Land Board members Tuesday that the audit on three wells on state endowment lands will cost less than $100,000 and that results will be available this fall.
The audit follows sweeping changes to Idaho natural gas and oil laws at this year’s Legislative session amid complaints private mineral rights owners aren’t receiving their fair share of royalty payments from Houston, Texas,-based oil company Alta Mesa.
Alta Mesa spokesman John Foster says the company is looking forward to working with the state on the audit.