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Code of Federal Regulations Title 30. Mineral Resources § 30.585.510 May BOEM reduce or waive my lease or grant payments?

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

(a) BOEM Director may reduce or waive the rent or operating fee or components of the operating fee, such as the fee rate or capacity factor, when the Director determines that it is necessary to encourage continued or additional activities.

(b) When requesting a reduction or waiver, you must submit an application to us that includes all of the following:

(1) The number of the lease, ROW grant, or RUE grant involved;

(2) Name of each lessee or grant holder of record;

(3) Name of each operator;

(4) A demonstration that:

(i) Continued activities would be uneconomic without the requested reduction or waiver, or

(ii) A reduction or waiver is necessary to encourage additional activities;  and

(5) Any other information required by the Director.

(c) No more than 6 years of your operations term will be subject to a full waiver of the operating fee.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 30. Mineral Resources § 30.585.510 May BOEM reduce or waive my lease or grant payments? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-30-mineral-resources/cfr-sect-30-585-510/

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