§ 203.50. Who may apply for end-of-life royalty relief?
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/us/cfr/t30/s§ 203.50·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
You may apply for royalty relief in two situations.
(a)Your end-of-life lease (as defined in § 203.2) is an oil and gas lease and has average daily production of at least 100 barrels of oil equivalent
(BOE)per month (as calculated in § 203.73) in at least 12 of the past 15 months. The most recent of these 12 months are considered the qualifying months. These 12 months should reflect the basic operation you intend to use until your resources are depleted. If you changed your operation significantly (e.g., begin re-injecting rather than recovering gas) during the qualifying months, or if you do so while we are processing your application, we may defer action on your application until you revise it to show the new circumstances.
(b)Your end-of-life lease is other than an oil and gas lease (e.g., sulphur) and has production in at least 12 of the past 15 months. The most recent of these 12 months are considered the qualifying months.
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§ 203.50
Who may apply for end-of-life royalty relief?
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