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Code of Federal Regulations Title 43. Public Lands:  Interior § 43.3285.2 When may BLM approve a voluntary termination of a unit agreement?

Current as of October 02, 2022 | Updated by FindLaw Staff

BLM may approve the voluntary termination of a unit agreement at any time:

(a) After receiving a signed certification agreeing to the termination from a sufficient number of the working interest owners specified in the unit agreement who together represent a majority interest in the unit agreement;  and

(b)(1) After the completion of the initial unit obligation well but before the establishment of a participating area;  or

(2) After a participating area is established, upon receipt of information providing adequate assurance that:

(i) Diligent development and production of known commercial geothermal resources will occur;  and

(ii) The public interest is protected.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 43. Public Lands:  Interior § 43.3285.2 When may BLM approve a voluntary termination of a unit agreement? - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-43-public-lands-interior/cfr-sect-43-3285-2/

Read this complete Code of Federal Regulations Title 43. Public Lands:  Interior § 43.3285.2 When may BLM approve a voluntary termination of a unit agreement? on Westlaw. Westlaw subscription required.

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