[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR3133.3]



[Page 390]

 

                    TITLE 43--PUBLIC LANDS: INTERIOR

 

    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR

 

PART 3130_OIL AND GAS LEASING: NATIONAL PETROLEUM RESERVE, ALASKA

--Table of Contents

 

                   Subpart 3133_Rentals and Royalties

 

Sec.  3133.3  Under what circumstances will BLM waive, suspend, or reduce the rental, royalty, or minimum royalty on my NPR-A lease?



    (a) BLM will waive, suspend, or reduce the rental, royalty, or 

minimum royalty of your lease if BLM finds that--

    (1) It encourages the greatest ultimate recovery of oil or gas or it 

is in the interest of conservation; and

    (2) You can't successfully operate the lease under its terms. This 

means that your cost to operate the lease exceeds income from the lease.

    (b) If the subsurface estate is held by a regional corporation, BLM 

will consult with the regional corporation, in accordance with 43 CFR 

2650.4-3, before approving an action under this section. Regional 

corporation is defined in 43 U.S.C. 1602.



[67 FR 17885, Apr. 11, 2002]