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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 43 - Public Lands: Interior |
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Subtitle B - Regulations Relating to Public Lands |
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Chapter II - Bureau of Land Management, Department of the Interior |
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SubChapter C - Minerals Management (3000) |
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Part 3200 - Geothermal Resource Leasing |
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Subpart 3212 - Lease Suspensions, Cessation of Production, Royalty Rate Reductions, and Energy Policy Act Royalty Rate Conversions |
§ 3212.16 - Can I apply to BLM to reduce, suspend, or waive the royalty or rental of my lease?
Latest version.
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§ 3212.16 Can I apply to BLM to reduce, suspend, or waive the royalty or rental of my lease?
(a) You may apply for a suspension, reduction, or waiver of your rent or royalty for any lease or portion thereof. BLM may grant your request in the interest of conservation and to encourage the greatest ultimate recovery of geothermal resources, if we determine that:
(1) Granting the request is necessary to promote development; or
(2) You cannot successfully operate the lease under its current terms.
(b) BLM will not approve a rental or royalty reduction, suspension, or waiver unless all rental or royalty interest owners other than the United States accept a similar reduction, suspension, or waiver.