§ 560.212 How does BOEM assign and monitor royalty suspension volumes for eligible leases?
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Title 30 CFR: Mineral Resources › Chapter V: BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR › Part 560: OUTER CONTINENTAL SHELF OIL AND GAS LEASING › Subpart B: Bidding Systems › § 560.212: § 560.212 How does BOEM assign and monitor royalty suspension volumes for eligible leases?
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(a) We have specified the water depth category for each eligible lease in the final Notice of OCS Lease Sale Package. The Final Notice of Sale is published in the
Federal Register
and the complete Final Notice of OCS Lease Sale Package is available on the BOEM Web site. Our determination of water depth for each lease became final when we issued the lease.
(b) We have specified in the Notice of OCS Lease Sale the royalty suspension volume applicable to each water depth. The following table shows the royalty suspension volumes for each eligible lease in million barrels of oil equivalent (MMBOE):
Water depth
Minimum royalty suspension volume
(1) 200 to less than 400 meters
17.5 MMBOE.
(2) 400 to less than 800 meters
52.5 MMBOE.
(3) 800 meters or more
87.5 MMBOE.
[76 FR 64623, Oct. 18, 2011. Redesignated at 81 FR 18175, Mar. 30, 2016]
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