30 CFR 218.100 - Royalty and rental payments.
Code of Federal Regulations - Title 30: Mineral Resources (2010)
Linked as:
Text
Title 30: Mineral Resources
CHAPTER II: MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR
SUBCHAPTER A: MINERALS REVENUE MANAGEMENT
PART 218: COLLECTION OF MONIES AND PROVISION FOR GEOTHERMAL CREDITS AND INCENTIVES
Subpart C: Oil and Gas, Onshore
218.100 - Royalty and rental payments.
(a) Payment of royalties and rentals. As specified under the provisions of the lease, the lessee shall submit all rental payments when due and shall pay in value or deliver in production all royalties in the amounts of value or production determined by MMS to be due.
(b) If the lessor elects to take royalty in oil or gas, unless otherwise agreed upon, such royalty shall be delivered on the leasehold, by the lessee to the order of and without cost to the lessor, as instructed by the Associate Director.
(c) Method of payment. The payor shall tender all payments in accordance with 30 CFR 218.51.
[47 FR 47773, Oct. 27, 1982. Redesignated at 48 FR 35641, Aug. 5, 1983, and amended at 52 FR 23815, June 25, 1987]
