Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 30 - Mineral Resources |
Chapter II - Bureau of Safety and Environmental Enforcement, Department of the Interior |
SubChapter B - Offshore |
Part 250 - Oil and Gas and Sulphur Operations in the Outer Continental Shelf |
Subpart M - Unitization |
§ 250.1300 - What is the purpose of this subpart?
Latest version.
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§ 250.1300 What is the purpose of this subpart?
This subpart explains how Outer Continental Shelf (OCS) leases are unitized. If you are an OCS lessee, use the regulations in this subpart for both competitive reservoir and unitization situations. The purpose of joint development and unitization is to:
(a) Conserve natural resources;
(b) Prevent waste; and/or
(c) Protect correlative rights, including Federal royalty interests.