Reading Room Document

Application of 10 U.S.C. § 7426 to Settlement of Dispute Between United States and Standard Oil Company Regarding Land Within Naval Petroleum Reserve

This document is a memorandum opinion regarding the settlement of United States v. Standard Oil Co. of California. The conclusion reached is that 10 U.S.C. § 7426 precludes a settlement that would guarantee Standard Oil Co. of California more than its percentage share of oil from Naval Petroleum Reserve No. 1 during the period of maximum production. The questions presented for review include whether the settlement terms under consideration would allow Standard to receive more than its share of oil and whether the statute allows for exceptions to the current receipt principle. The document also discusses the legislative history and the interpretation of the statute's language to support the conclusion reached.

December 27, 1979