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Current as of January 02, 2025 | Updated by Findlaw Staff
(a) You may surrender the lease or grant, or an officially designated subdivision thereof, by filing one paper copy and one electronic copy of a relinquishment application with BOEM. A relinquishment takes effect on the date we approve your application, subject to the continued obligation of the lessee and the surety to:
(1) Make all payments due on the lease or grant, including any accrued rent and deferred bonuses;
(2) Decommission all facilities on the lease or grant to be relinquished to the satisfaction of BOEM; and
(3) Perform any other outstanding obligations under the lease or grant.
(b) Your relinquishment application must include:
(1) Name;
(2) Contact name;
(3) Telephone number;
(4) Fax number;
(5) E–mail address;
(6) BOEM–assigned lease or grant number, and, if applicable, the name of any facility;
(7) A description of the geographic area you are relinquishing;
(8) The name, title, and signature of your authorizing official (the name, title, and signature must match exactly the name, title, and signature in BOEM qualification records); and
(9) A statement that you will adhere to the requirements of subpart I of this part.
(c) If you have submitted an application to relinquish a lease or grant, you will be billed for any outstanding payments that are due before the relinquishment takes effect, as provided in paragraph (a) of this section.
Cite this article: FindLaw.com - Code of Federal Regulations Title 30. Mineral Resources § 30.585.435 How can I relinquish a lease or a grant or parts of a lease or grant? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-30-mineral-resources/cfr-sect-30-585-435/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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