1. Regulations
  2. title 30
  3. chapter V
  4. part 560
  5. subpart B
  6. subjgrp 258
  7. § 560.212

View all text of Subjgrp 258 [§ 560.210 - § 560.214]

§ 560.212 - How does BOEM assign and monitor royalty suspension volumes for eligible leases?

(a) We have specified the water depth category for each eligible lease in the final Notice of OCS Lease Sale Package. The Final Notice of Sale is published in the Federal Register and the complete Final Notice of OCS Lease Sale Package is available on the BOEM Web site. Our determination of water depth for each lease became final when we issued the lease.

(b) We have specified in the Notice of OCS Lease Sale the royalty suspension volume applicable to each water depth. The following table shows the royalty suspension volumes for each eligible lease in million barrels of oil equivalent (MMBOE):

Water depth Minimum royalty suspension volume (1) 200 to less than 400 meters17.5 MMBOE. (2) 400 to less than 800 meters52.5 MMBOE. (3) 800 meters or more87.5 MMBOE.
[76 FR 64623, Oct. 18, 2011. Redesignated at 81 FR 18175, Mar. 30, 2016]

AUTHORITY: Section 104, Public Law 97-451, 96 Stat. 2451 (30 U.S.C. 1714), Public Law 109-432, Div C, Title I, 120 Stat. 3000; 30 U.S.C. 1751; 31 U.S.C. 9701; 43 U.S.C. 1334; 33 U.S.C. 2704, 2716; E.O. 12777, as amended; 43 U.S.C. 1331

SOURCE: 76 FR 64623, Oct. 18, 2011, unless otherwise noted.

CITE AS: 30 CFR 560.212