WebOct 3, 2024 · We may grant royalty relief when it serves the statutory purposes summarized in § 203.1 and our formal relief programs, including but not limited to the applicable levels of the royalty suspension volumes and price thresholds, provide inadequate encouragement to promote development or increase production. WebJul 1, 1996 · Temporary regulations implementing the OCS Deep Water Royalty Relief Act will became effect in the US on July 1st, said the Minerals Managment Service. Final regulations are being prepared for a later date. Fields that did not produce before 28 November 1995 could be eligible for royalty suspension volumes of at least: 17.5 million …
The OCS Royalty Rate: Statutory Requirements and General …
WebMar 25, 1996 · Deep Water Royalty Relief Act (DWRRA). An incentive for development and production in water depths of 200 to 400 meters is provided through allocating royalty suspension volumes of 17.5 million barrels of oil equivalent to eligible fields. c. Bonus Bidding with a 121⁄ 2-Percent Royalty and a Royalty Suspension Volume (52.5 million … WebRather than the fixed royalty-suspension volumes set by the DWRRA, the rule establishes a flexible structure whereby MMS may change both water depths and royalty-suspension volumes periodically. This flexibility is vital because of the rapid change underway in the cost of deep water development. The extension of rental obligations responds to ... chiffre 2000
OIL and GAS LEASE SALE 257 Preliminary Bid Recap
Web(a) Your eligible lease will receive a royalty suspension volume as specified in the Act. The bidding system in Sec. 260.110(g) applies. (b) Your eligible lease may receive a royalty suspension volume only if your entire lease is west of 87 degrees, 30 minutes West longitude. [73 FR 58473, Oct. 7, 2008] Sec. 260.114 How does MMS assign and ... Web§ 560.210 How do royalty suspension volumes apply to eligible leases? Royalty suspension volumes, as specified in section 304 of the Act, apply to eligible leases that meet the criteria in § 560.113. For purposes of this section and §§ 560.113through 560.117: WebNov 16, 2000 · Suspension volumes include volumes allocated to a lease under an approved unit agreement, but exclude any volumes of production that are not normally royalty … chiffre 2121