§ 1202.52 Royalties.
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Title 30—Mineral Resources > CHAPTER XII—OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR > SUBCHAPTER A—NATURAL RESOURCES REVENUE > PART 1202—ROYALTIES > Subpart B—Oil, Gas, and OCS Sulfur, General
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(a) Royalties on oil, gas, and OCS sulfur shall be at the royalty rate specified in the lease, unless the Secretary, pursuant to the provisions of the applicable mineral leasing laws, reduces, or in the case of OCS leases, reduces or eliminates, the royalty rate or net profit share set forth in the lease.
(b) For purposes of this subpart, the use of the term royalty(ies) includes the term net profit share(s).
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