§585.435. How can I relinquish a lease or a grant or parts of a lease or grant?
30 C.F.R. § 585.435
You may surrender a lease or grant, or a designated subdivision thereof, by filing with BOEM a properly completed official relinquishment form available on the BOEM website. A relinquishment takes effect on the date BOEM receives your completed form, subject to the continued obligation of the lessee or grant holder and the surety to:
Make all payments due on the lease or grant, including any accrued rent and deferred bonuses;
Decommission all facilities on the relinquished lease or grant (or portion thereof) to BSEE's satisfaction; and
Perform any other outstanding obligations under the lease or grant.
After you submit a completed relinquishment form for a lease or grant, ONRR will bill you for any outstanding payments that have accrued from obligations arising under the relinquished lease or grant.
Notes, amendments, and revision history
Source
Source: 89 FR 42736, May 15, 2024, unless otherwise noted.
Authority
Authority: 43 U.S.C. 1337.
Source
Source: 88 FR 6430, Jan. 31, 2023, unless otherwise noted.