30 C.F.R. § 585.505

Current through September 30, 2024
Section 585.505 - What are the rent and operating fee requirements for a limited lease?
(a) The rent for a limited lease is $3 per acre per year, unless otherwise established in the Final Sale Notice and/or your lease instrument.
(b) You must pay ONRR the initial 12 months' rent 45 days after you receive the lease copies from BOEM in accordance with the requirements provided in § 585.500(c)(3) .
(c) You must pay ONRR as provided in 30 CFR 1218.51 the rent due at the beginning of each subsequent 1-year period on the entire lease area for the duration of your operations period.
(d) BOEM will not charge an operating fee for the authorized sale of power from a limited lease.

30 C.F.R. §585.505

88 FR 6430, 1/31/2023; 89 FR 42740, 7/15/2024