TRB's Airport Cooperative Research Program (ACRP) Synthesis 87: Airport Participation in Oil and Gas Development provides airports with practical considerations and responses involving oil and gas extraction. The report documents lessons learned as energy prices went from their highest levels (in the mid-2000s) to some of their lowest (in 2015 and 2016). It includes a compilation of federal, state, and local regulatory frameworks; available airport oil and gas leases; municipal permits and ordinances; and case examples from targeted interviews with eight airports. As the price of oil and gas has a long history of volatility, a view of the full price cycle has particular utility to airports.
Table of Contents
|CHAPTER ONE Introduction||5-12|
|CHAPTER TWO Oversight of Oil and Gas Development at Airports||13-21|
|CHAPTER THREE Components of an Oil and Gas Lease||22-29|
|CHAPTER FOUR Accounting Treatment of Bonus and Royalties||30-31|
|CHAPTER FIVE Airport Experiences with Oil and Gas Development||32-65|
|CHAPTER SIX Conclusions||66-66|
|APPENDIX A Ownership of Mineral Estates - Review of State Laws||67-72|
|APPENDIX B Sample Insurance Requirements||73-76|
|APPENDIX C Bibliography||77-78|
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