§ 585.503. What are the rent and operating fee requirements for a commercial lease?
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/us/cfr/t30/s§ 585.503·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The rent for a commercial lease is \$3 per acre per year, unless otherwise established in the FSN or lease.
(1)You must pay ONRR the first 12 months' rent no later than 45 calendar days after you receive your copy of the executed lease from BOEM under § 585.500(c)(3).
(2)You must pay ONRR as provided in 30 CFR 1218.51 the rent due at the beginning of each subsequent 1-year period for the entire lease area until the facility begins commercial operations as specified in § 585.506 or as otherwise specified in the FSN or lease:
(i)For leases issued competitively, BOEM will specify in the FSN and lease any adjustment to the rent that will take effect during commercial operations but before the operations period.
(ii)For leases issued noncompetitively, BOEM will specify in the lease any adjustment to the rent that will take effect during commercial operations but before the operations period.
(3)You must pay ONRR as provided in 30 CFR 1218.51 the rent due for a project easement in addition to the lease rent as provided in § 585.507. You must commence rent payments for your project easement upon BOEM's approval of your COP or GAP.
(b)After your lease begins commercial operations, you must pay the operating fees in the amount specified in § 585.506. Regardless of whether the lease is awarded competitively or noncompetitively, BOEM will specify in the lease when operating fees commence.
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§ 585.503
What are the rent and operating fee requirements for a commercial lease?
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