§1218.305. How do I pay advanced royalties I owe under BLM regulations?
30 C.F.R. § 1218.305
If you pay advanced royalties under 43 CFR 3212.15(a)(1) to retain your lease:
You must pay an advanced royalty monthly equal to the average monthly royalty you paid under 30 CFR part 1206, subpart H (including the amount against which you applied the annual rental as a credit) for the last 3 years the lease was producing. If your lease has been producing for less than 3 years, then use the average monthly royalty payment for the entire period your lease has been producing continuously;
The ONRR must receive your advanced royalty payment before the end of each full calendar month in which no production occurs;
You may credit any advanced royalty you pay against production royalties you owe after your lease resumes production. You may not reduce the amount of any production royalty paid for any year below zero.
Notes, amendments, and revision history
Amendments
[72 FR 24468, May 2, 2007]
Authority
Authority: 5 U.S.C. 301 et seq.; 25 U.S.C. 396 et seq., 396a et seq., 2101 et seq.; 30 U.S.C. 181 et seq., 351 et seq., 1001 et seq., 1701 et seq.; 31 U.S.C. 3335, 3711, 3716-18, 3720A, 9701; 43 U.S.C. 1301 et seq., 1331 et seq., and 1801 et seq.
Source
Source: 48 FR 35641, Aug. 5, 1983, unless otherwise noted. Redesignated at 75 FR 61084, Oct. 4, 2010.
Amendments
[72 FR 24468, May 2, 2007]