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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 1206 - Product Valuation |
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Subpart C - Federal Oil |
§ 1206.120 - How are operating allowances determined?
Latest version.
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§ 1206.120 How are operating allowances determined?
BOEM may use an operating allowance for the purpose of computing payment obligations when specified in the notice of sale and the lease. BOEM will specify the allowance amount or formula in the notice of sale and in the lease agreement.