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 256 - Leasing of Sulphur or Oil and Gas in the Outer Continental Shelf |
Subpart N - Bonus or Royalty Credits for Exchange of Certain Leases Offshore Florida |
§ 256.93 - How is the bonus or royalty credit allocated among multiple lease owners?
Latest version.
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The MMS will allocate the bonus or royalty credit for an exchanged lease to the current record title interest owners in the same percentage share as each owner has in the lease as of the date of the request to exchange the lease.