30 C.F.R. § 203.48 May I substitute the deep gas drilling provisions in §203.0 and §§203.40 through 203.47 for the deep gas royalty relief provided in my lease terms?
Title 30 - Mineral Resources
(a) You may exercise an option to replace the applicable lease terms for royalty relief related to deep-well drilling with those in §203.0 and §§203.40 through 203.47 if you have a lease issued with royalty relief provisions for deep-well drilling. Such leases: (1) Must be issued as part of an OCS lease sale held after January 1, 2001, and before April 1, 2004; and (2) Must be located wholly west of 87 degrees, 30 minutes West longitude in the GOM entirely or partly in water less than 200 meters deep. (b) To exercise the option under paragraph (a) of this section, you must notify, in writing, the MMS Regional Supervisor for Production and Development of your decision before September 1, 2004 or 180 days after your lease is issued, whichever is later, and specify the lease and block number. (c) Once you exercise the option under paragraph (a) of this section, you are subject to all the activity, timing, and administrative requirements pertaining to deep gas royalty relief as specified in §§203.40 through 203.47. (d) Exercising the option under paragraph (a) of this section is irrevocable. If you do not exercise this option, then the terms of your lease apply.
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
§ 203.48 May I substitute the deep gas drilling provisions in §203.0 and §§203.40 through 203.47 for the deep gas royalty relief provided in my lease terms?
