43 C.F.R. § 3133.3 Under what circumstances will BLM waive, suspend, or reduce the rental, royalty, or minimum royalty on my NPR-A lease?
Title 43 - Public Lands: Interior
(a) BLM will waive, suspend, or reduce the rental, royalty, or minimum royalty of your lease if BLM finds that— (1) It encourages the greatest ultimate recovery of oil or gas or it is in the interest of conservation; and (2) You can't successfully operate the lease under its terms. This means that your cost to operate the lease exceeds income from the lease. (b) If the subsurface estate is held by a regional corporation, BLM will consult with the regional corporation, in accordance with 43 CFR 2650.4–3, before approving an action under this section. Regional corporation is defined in 43 U.S.C. 1602. [67 FR 17885, Apr. 11, 2002]
Title 43: Public Lands: Interior
PART 3130—OIL AND GAS LEASING: NATIONAL PETROLEUM RESERVE, ALASKA
Subpart 3133—Rentals and Royalties
§ 3133.3 Under what circumstances will BLM waive, suspend, or reduce the rental, royalty, or minimum royalty on my NPR-A lease?
