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Code of Federal Regulations Title 30. Mineral Resources § 30.1204.203 What is the other relief option?

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) Under this relief option, you may request any type of accounting and auditing relief that is appropriate for production from your marginal property, provided it is not prohibited under § 1204.204 and meets the statutory requirements of § 1204.5. Examples of relief options you could request are:

(1) To report and pay royalties using a valuation method other than that required under 30 CFR part 1206 that approximates royalties payable under that part 1206;  and

(2) To reduce your royalty audit burden. However, ONRR will not consider any request that eliminates ONRR's or the States' right to audit.

(b) You must request approval from ONRR under § 1204.205(b), and receive approval under § 1204.206 before taking relief under this option.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 30. Mineral Resources § 30.1204.203 What is the other relief option? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-30-mineral-resources/cfr-sect-30-1204-203/

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