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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 30 - Mineral Resources |
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Chapter XII - Office of Natural Resources Revenue, Department of the Interior |
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SubChapter A - Natural Resources Revenue |
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Part 1204 - Alternatives for Marginal Properties |
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Subpart A - General Provisions |
§ 1204.1 - What is the purpose of this part?
Latest version.
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§ 1204.1 What is the purpose of this part?
This part explains how you as a lessee or designee of a Federal onshore or Outer Continental Shelf (OCS) oil and gas lease may obtain prepayment or accounting and auditing relief for production from certain marginal properties. This part does not apply to production from Indian leases, even if the Indian lease is within an agreement that qualifies as a marginal property.