§ 15905. Royalty relief for deep water production
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/usc/title-42/section-15905A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general Subject to subsections
(b)and (c), for each tract located in water depths of greater than 400 meters in the Western and Central Planning Area of the Gulf of Mexico (including the portion of the Eastern Planning Area of the Gulf of Mexico encompassing whole lease blocks lying west of 87 degrees, 30 minutes West longitude), any oil or gas lease sale under the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.) occurring during the 5-year period beginning on August 8, 2005, shall use the bidding system authorized under section 8(a)(1)(H) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(1)(H)).
(b)Suspension of royalties The suspension of royalties under subsection
(a)shall be established at a volume of not less than—
(1)5,000,000 barrels of oil equivalent for each lease in water depths of 400 to 800 meters;
(2)9,000,000 barrels of oil equivalent for each lease in water depths of 800 to 1,600 meters;
(3)12,000,000 barrels of oil equivalent for each lease in water depths of 1,600 to 2,000 meters; and
(4)16,000,000 barrels of oil equivalent for each lease in water depths greater than 2,000 meters.
(c)Limitation The Secretary may place limitations on royalty relief granted under this section based on market price.
(Pub. L. 109–58, title III, § 345, Aug. 8, 2005, 119 Stat. 703.)
Connections25 cite this · traces to 3
Cited by 25 sections
register
statutes-at-large
statute-compilations
bill
- Sec. 4Royalty Relief
- Sec. 204Repeal of royalty relief provisions
- Sec. 4Royalty Relief
- Sec. 102Royalty Relief
- Sec. 2Prohibition on royalty incentives for deepwater drilling
- Sec. 4Royalty Relief
- Sec. 4Royalty Relief
- Sec. 502Ending fossil fuel subsidies
- Sec. 502Ending fossil fuel subsidies
- Sec. 7Royalty relief
- Sec. 7Repeal of royalty relief provisions
- Sec. 102Royalty relief
- Sec. 7Repeal of royalty relief provisions
- Sec. 8Royalty relief
- Sec. 4Royalty relief
- Sec. 70804Fossil fuel resources
- Sec. 4Royalty relief
- Sec. 8Royalty relief
- Sec. 102Royalty relief
- Sec. 102Royalty relief
- Sec. 102Royalty relief
- Sec. 102Royalty relief
Traces to 3 documents
4 references not yet in our index
- Pub. L. 109–58, title III, § 345
- 119 Stat. 703
- act Aug. 7, 1953, ch. 345
- 67 Stat. 462
Citation graph
cites case law
§ 15905
Royalty relief for deep water production
Bills×22
Fed. Reg.×1
Stat. Comp.×1
Stat.×1
Pub. L.Pub. L. 109–58, title III, § 345
Stat.119 Stat. 703
Actact Aug. 7, 1953, ch. 345
Stat.67 Stat. 462
Cites 7Cited by 25 across 4 sources