Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 43 - Public Lands: Interior |
Subtitle B - Regulations Relating to Public Lands |
Chapter II - Bureau of Land Management, Department of the Interior |
SubChapter C - Minerals Management (3000) |
Part 3200 - Geothermal Resource Leasing |
Subpart 3207 - Lease Terms and Extensions |
§ 3207.5 - What terms (time periods) apply to my lease?
Latest version.
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§ 3207.5 What terms (time periods) apply to my lease?
Your lease may include a number of different time periods. Not every time period applies to every lease. These periods include:
(a) A primary term consisting of:
(1) Ten years;
(2) An initial extension of the primary term for up to 5 years;
(3) An additional extension of the primary term for up to 5 years;
(b) A drilling extension of 5 years under § 3207.14;
(c) A production extension of up to 35 years; and
(d) A renewal period of up to 55 years.