30 C.F.R. § 203.47 Do I keep royalty relief if prices rise significantly?
Title 30 - Mineral Resources
(a) You must pay royalties on all gas and oil production for which royalty suspension volume or royalty suspension supplement otherwise would be allowed under §§203.40 through 203.46 for any calendar year when the average daily closing NYMEX natural gas price exceeds the threshold of $9.34 per MMBtu, adjusted annually after year 2004 for inflation. The threshold price for any calendar year after 2004 is found by adjusting the threshold price in the previous year by the percentage that the implicit price deflator for the gross domestic product as published by the Department of Commerce changed during the calendar year. (b) You must pay any royalty due under this paragraph, plus late payment interest from the end of the month after the month of production until the date of payment under 30 CFR 218.54, no later than 90 days after the end of the calendar year for which you owe royalty. (c) Production volumes on which you must pay royalty under this section count as part of your royalty suspension volumes and royalty suspension supplements.
Title 30: Mineral Resources
PART 203—RELIEF OR REDUCTION IN ROYALTY RATES
Subpart B—OCS Oil, Gas, and Sulfur General
Royalty Relief for Drilling Deep Gas Wells on Leases Not Subject to Deep Water Royalty Relief
§ 203.47 Do I keep royalty relief if prices rise significantly?
