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Code of Federal Regulations Title 30. Mineral Resources § 30.203.61 How do I assess my chances for getting relief?

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

You may ask for a nonbinding assessment (a formal opinion on whether a field would qualify for royalty relief) before turning in your first complete application on an authorized field. This field must have a qualifying well under 30 CFR part 550, subpart A, or be on a lease that has allocated production under an approved unit agreement.

(a) To request a nonbinding assessment, you must:

(1) Submit a draft application in the format and detail specified in guidance from the BSEE regional office for the GOM;

(2) Propose to drill at least one more appraisal well if you get a favorable assessment;  and

(3) Pay a fee under § 203.3.

(b) You must wait at least 90 days after receiving our assessment to apply for relief under § 203.62.

(c) This assessment is not binding because a complete application may contain more accurate information that does not support our original assessment. It will help you decide whether your proposed inputs for evaluating economic viability and your supporting data and assumptions are adequate.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 30. Mineral Resources § 30.203.61 How do I assess my chances for getting relief? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-30-mineral-resources/cfr-sect-30-203-61/

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