Minerals Council

Osage Minerals Council in search of TERA funding

The Osage Minerals Council looked at presentations and the discussion of the Tribal Energy Resource Agreement (TERA) during the executive session of the March 17 meeting. The TERA task force has looked at the estimated start-up costs and the budget for annual operation.

Chairman Everett Waller spoke at the March 17 meeting, “We have only filed the application,” he said. “The council has not signed a TERA nor will we unless the funding is available for us in a multi-year environment.”

When it comes to funding, the council is being talked to on different sides of the fence.

“Sometimes the government tells us there's availability for funding and then the next day they tell us there’s not,” Waller said.

First approved in 2005, a TERA between a tribe and the Department of Interior allows a tribe to review, approve and manage leases, business agreements and rights of way for energy development on tribal land without having to go through the Secretary of Interior every step of the way.

The council did not discuss how much funding would be needed to execute a TERA.

Waller said, “We do not get the returns for what we have lost. So, it is imperative that we move … forward and I have had plenty of comments from my shareholders, they are understanding of that.”

The target date for the Osage Minerals Council is May 1 as described by Principal Chief Geoffrey Standing Bear as the requirements for the TERA.