GroundRules
30 CFR 203.55: Under what conditions can my end-of-life royalty relief arrangement for an oil and gas lease be ended?
Where this section sits in the code
- Title 30—Mineral Resources
- CHAPTER II—BUREAU OF SAFETY AND ENVIRONMENTAL ENFORCEMENT, DEPARTMENT OF THE INTERIOR
- SUBCHAPTER A—MINERALS REVENUE MANAGEMENT
- PART 203—RELIEF OR REDUCTION IN ROYALTY RATES
- Subpart B—OCS Oil, Gas, and Sulfur General
(a) If you have an end-of-life royalty relief arrangement, you may renounce it at any time. The lease rate will return to the effective rate during the qualifying period in the first full month following our receipt of your renouncement of the relief arrangement.
(b) If you pay the effective lease rate for 12 consecutive months, we will terminate your relief. The lease rate will return to the effective rate in the first full month following this termination.
(c) We may stipulate in the letter of approval for individual cases certain events that would cause us to terminate relief because they are inconsistent with an end-of-life situation.
Collected 2026-08-27T02:25:24Z. Source file · JSON